Romania's No.1oil company Petrom forks out EUR 500m to enter local electricity market

Romania's top oil company Petrom will construct an electrical power plant which is estimated to start supplying electricity in three years, following an investment of 500 million euros, the company said in a release.The new power plant will have a capacity of 860 MW. It will be fueled with natural gas through a pipe belonging to Romania's gas transporter Transgaz. The construction works will start next year and an estimated deadline is the end of 2010, the release said.About 20 percent of ...

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