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Although the memorandum with China Nuclear Power General Corporation (CGN) for the construction of two new nuclear reactors, Cernavoda 3 and 4, should have been signed since mid-December 2014, the government and Nuclearelectrica are still negotiating with the Chinese on several important points – but no detail can be offered until the end of the debates, told energynomics.ro Daniela Lulache, general manager of Nuclearelectrica.
“We are still negotiating. We hope to reach soon common grounds with the selected investor, CGN, on the Memorandum of Understanding”, says the Nuclearelectrica CEO.
So far, the financing structure has not been completed, but the fund can be attracted either form the domestic market via institutions such as Eximbank Romania and the Chinese banks and Eximbank of China, or other sources, said Lulache.
“Definitely will be a complex structure of financing. When talking about a complex project, of a few billion, you may never imagine a sole source of funding. Certainly we will have loans that we’ll draw from the market, we hope, in the best conditions, which may, if SGN will be our partner, from China, but not necessarily, with the support of the Chinese Eximbank and the Romanian one, i.e- that will be a funding structure certainly complex”, also said Lulache.
CGN and Nuclearelectrica signed a letter of agreement for the construction of reactors 3 and 4 in October 2014. According to the estimated timetable for the selection procedures, the Memorandum of Understanding was to be signed in December 2014, following that throughout that month also, negotiations will start on the content of the constitution act of the newly created project company.
