Of total compensations, RON4.5 million will be paid in 2015, according to the substantiation note of a draft government decision drawn up by the Energy Ministry. Compensations are covered from the state budget.
As per the substantiation note, the investment will “secure” 775 jobs and help reduce the electricity price paid by end consumers.
The new mine, called Jilt Nord, will ensure an annual output of 4.5 million tons of lignite and is located in Gorj county.
Complexul Energetic Oltenia was set up in 2012 through the merger of the Craiova, Rovinari and Turceni energy complexes with Societatea Nationala a Lignitului Oltenia (National Lignite Company Oltenia).
The company produces 95% of Romania’s lignite and can generate up to 30% of the local electricity consumption. It has some 19,000 employees.
CE Oltenia Board Chairman Laurentiu Ciurel said in February that salaries will be cut by 2.3% and some 3,000 employees will be sacked starting March.
The International Monetary Fund (IMF) asked the Romanian Government to restructure the company, which also entails staff cuts.
CE Oltenia is majority held by the Energy Ministry.