Cernavoda 3&4 new-build project closer to sourcing Chinese loans 24 June 2014 24 June 2014

Media reports suggest that Romania's EUR 6 billion project to build two new 700 MWe CANDU reactors is likely to source financial investment from Chinese state sources.

Romania's minister of economy Constantin Nita said in a statement that advanced negotiations between it and China should be concluded in the latter part of the year, according to Business Review Romania, republished by news web site Balkans.com.

The report said that Nita met with the Chinese minister of energy Wu Xinxiong and with representatives of the National Energy Administration and China General Nuclear Power Group (CGN). Other large infrastructure projects in the country, including a pumped storage plant, were also discusssed.

Romania's vice-premier Liviu Dragnea said that the Industrial and Commercial Bank of China woudl finance the project, according to a posting on the Wall Street Journal's Frontiers blog.

Picture: Cernavoda 1, which restarted in mid-June after a month-long planned repair and maintenance outage, Cernavoda 3&4 would also be CANDU 6 reactors.