The Berbesti and Alunu mines, along with some 1,000 miners, will be transferred to CET Govora, a thermal energy producer and supplier in Valcea County, central Romania.
“The transfer will take place right before CE Oltenia’s listing,” said Gabriel Dumitrascu, head of privatization with the Energy Department. “We are talking about improving CE Oltenia’s efficiency.”
CE Oltenia holding was found in 2012 following the merger of mining company Societatea Nationala a Lignitului Oltenia and thermal power producers Turceni, Craiova and Rovinari.
Under a EUR2 billion loan agreement with the International Monetary Fund, Romania has pledged to sell 15% in CE Oltenia by October 2014.
Additionally, the country plans to list a 15% stake in hydropower generator Hidroelectrica by June this year and to sell 51% in electricity producer Electrica SA.
According to Dumitrascu, there will be a waiting period of minimum four weeks between Hidroelectrica’ and Electrica’s listings.