Department of Energy has added on the agenda of Nuclearelectrica General Meeting of Shareholders, to be held on July 31st, the subject of continuing the project regarding nuclear units 3 and 4 at Cernavodă, and of selecting and attracting investors in this project, shows a document sent by Nuclearelectrica to the Bucharest Stock Exchange (BSE).

At the end of June, Deputy Prime Minister Liviu Dragnea said that Industrial and Commercial Bank of China has decided to financially support the construction of the reactors.

“The president of Industrial and Commercial Bank of China showed the clear interest and the bank management’s decision to financially support the investment projects agreed by the two governments, that is, building nuclear reactors 3 and 4 at the nuclear plant in Cernavodă and the projects investments in other energy production capabilities that are in an advanced state of negotiations”, said Dragnea.

Building the reactors might cost about 6.45 billion euros, say the consultants from Ernst & Young in a study. The project started in 2006 with several European companies as partners. These successively withdrawn from the project, citing as motives including China’s involvement in the project, a situation that has changed unacceptable the initial configuration.

At the end of 2008, CEZ, Ibedrola, GDF SUEZ and RWE announced they retire from the project. Their place was taken by ArcelorMittal Galați (6.2% share) and Enel Investment Holding BV (9.15%). The state was forced to buy back the stake of former investors, ended up owning the remaining 84.65% stake through Nuclearelectrica. Now, the producer of nuclear power is the sole shareholder of Energonuclear Project Company.

Nuclearelectrica covers about 19% of the national electricity demand with the help of two nuclear reactors at Cernavodă built on CANDU technology. The company also holds nuclear fuel plant in Pitești. Ministry of Economy holds a 81.27% stake in Nuclearelectrica.