“The plant will undergo works in preparation for the cold season,” OMV Petrom said.
The construction of Petrom’s power plant in Brazi kicked off in 2009 and was completed in August 2012, in an investment worth EUR530 million. The 860 MW plant was supposed to start production in December last year, but the deadline was put off due to technical malfunctions.
Petrom is majority owned by Austria’s OMV (OMV.VI), with a 51% stake. Romania’s Economy Ministry and investment fund Fondul Proprietatea hold 20.63% and 20.11% in Petrom, respectively, while the remaining shares are traded on the Bucharest bourse.
At around 13:40 pm Thursday, Petrom traded down 1.53% at RON0.4042 a share, amid a declining market. (EUR1=RON4.5156)