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Project of reactors 3 and 4 of Cernavoda, revalued at 6.45 billion euros
The project for the Units 3 and 4 of the Cernavoda nuclear power plant (south-eastern Romania) was revalued at 6.45 billion euros, according to the new feasibility study conducted by Ernst & Young, a document that will be discussed in the next Nuclearelectrica general meeting of shareholders, according to the company's website.
The estimated project value that initially amounted to about four billion euros, does not include the interest over the construction period, nor the VAT, according to the source.
The study shows that investments for the turnkey construction contract will stand at 4.78 billion euros and the works will be carried out by a consortium led by Lavalin Nuclear Company.
The Nuclearelectrica existing asset value is estimated at one billion euros, according to the quoted document.
The services and facilities for putting it into operation are estimated at 417 million euros and the unexpected expenses amount to 239.3 million euros.
The next Nuclearelectrica general meeting of shareholders will take place on October 26, 2012.
The Romanian authorities invited back to the discussions CEZ, RWE, Iberdrola and GDF Suez for the works on the reactors 3 and 4 at Cernavoda, Economy, Trade and Business Environment Ministry (MECMA) Secretary of State Rodin Traicu said on Wednesday, October 17, after he attended a conference on energy cooperation between Romania and South Korea.
'We invited four companies to discussions to resume the works on the project of reactors 3 and 4 at Cernavoda. We're waiting for a response. Last week we had a meeting with EnergoNuclear about what happened until September 15, 2012. It was decided, that after the presentation of the feasibility study, we resume the opportunities for attracting investors, as the reasons for which they pulled away are present,' Rodin Traicu said.
The Secretary of State pointed out that the state no longer intended to hold the majority stake in the project.
'The state no longer wants to hold the majority stake, and we are open to any form of collaboration,' said Traicu.
In October 2011, CEZ announced the sale of shares owned within the project for the construction completion in the nuclear power plant of Cernavoda to Nuclearelectrica SA and, in January 2012, GDF Suez, Iberdrola and RWE Power announced, in their turn, the withdrawal from this project, for reasons related to each company's strategy.