On December 28, CE Hunedoara Board of Directors decided to file for voluntary insolvency of the company, in an attempt to avoid bankruptcy.
CE Hunedoara’s debts currently total RON1.2 billion.
Energy Minister Victor Grigorescu, who paid a working visit to CE Hunedoara late December, said the company’s situation is “disastrous” and asked the management to take measures to avoid the company’s bankruptcy.
CE Hunedoara holds approximately 5% of Romania’s electricity production and employs 6,257 people.
The company was set up in 2012, through the merger of state-owned thermal power producers Deva and Paroseni, and produces electricity using coal.