The contract with the consultancy company could reach approximately EUR1 million, said Ion Petroniu, manager of CE Oltenia Development Strategies Department, who added that he hopes the auction for selecting the consultancy company would be approved by the board in the meeting on September.

Petroniu also said that the layoff process at the company is over, after 2,000 employees have already been laid off. CE Oltenia currently employs approximately 15,000 people.

CE Oltenia was set up in 2012 following the merger of mining company Societatea Nationala a Lignitului Oltenia and thermal power producers Turceni, Craiova and Rovinari.

The company has 12 units, with a total installed power capacity of 3,600 MW, of which only 3,000 MW are functional. Two of the 12 units are not operational – unit 5 of Rovinari, undergoing an upgrade process, and another unit, which will resume operations in September.