Nuclearelectrica’ s shareholders approved an extension of four months starting with the previous date of May 9, for the negotiations with the Chinese company China General Nuclear Power Corporation (CGN) for the construction of reactors 3 and 4 at Cernavoda, at the request of the Chinese partners, according to documents of the company.

The decision was taken in the Extraordinary General Meeting of Shareholders of 18 July. Thus, the negotiation period has been extended until September, 9.

The extension of the negotiations has already been approved by the Government on June 2, through a Memorandum of Understanding (MoU) entitled “Continuation of negotiations on Documents Investment on the development, construction, operation and decommissioning of Units 3 and 4 of Cernavoda NPP”, is said in an explanatory note, published on the website of Nuclearelectrica.

However, extending the negotiation was done “to apply all other provisions of the MoU, including the possibility of either party to terminate the MoU, after 4 months without compensation, through a simple written notice to the other party, if the failure to reach an agreement on investment and document as the delay was not caused by that Party “, reads the document, quoted by economica.net.

Nuclearelectrica representatives stated that during 17 to 25 March 2016 and 11 to 28 April 2016, have held two rounds of talks between negotiation committee documents and CGN on investment, without reaching a final form.