Company Operating Tarnita Hydropower Plant Exempted From Payment of Several Taxes
The company that will operate the future hydropower plant in Tarnita-Lapustesti, worth over EUR1 billion, will be exempted from the payment of several taxes and tariffs, according to an ordinance draft of the Energy Department.
Thus, the company will be exempted from the payment of the cogeneration tax, the acquisition of green certificates, the tariff for energy transport, the tariff for the system service, the payment of water used in the process of electricity production, and other taxes.
Romanian state-run company Hidro Tarnita has recently launched procedures to select investors for the construction of the 1,000-megawatt hydropower plant in Tarnita-Lapustesti. (Romania Libera)
Two Thirds Of Oil And Gas Megaprojects Face Cost Overruns
Almost two thirds (64%) of oil and gas megaprojects are facing cost overruns and 73% are reporting schedule delays, according to EY report “Spotlight on megaprojects”.
Megaprojects are projects worth over $1 billion in the industry segments upstream, LNG, pipelines and refining.
According to E&Y, Romania should adapt its institutional, legislative, fiscal and regulation framework, in order to reduce the external risks of its megaprojects. (Curierul National)
AmCham Romania Draws Up Recommendations On Improving EU Fund Absorption
American Chamber of Commerce in Romania (AmCham Romania) drew up several recommendations for improving the process and facilitating an efficient and coherent absorption of European funds under the new framework.
“Along the elaboration and revision of the Partnership Agreement, AmCham Romania, through its Structural Funds and Public Procurement working group has provided the Ministry of European Funds with its members’ recommendations and proposals for improving the process and facilitating an efficient and coherent absorption of European funds under the new framework,” AmCham said in a statement. (Adevarul)
National Geographic Channel To Promote Bucharest and Romania’s Tourism Brand
National Geographic Channel will promote Bucharest and Romania’s tourism brand in ten countries in the world, including Germany, France, Italy, Great Britain and Russia, through a documentary and several short films, a project estimated at nearly EUR1 million.
Romania’s National Authority for Tourism (ANT) will close a contract for the coproduction of several programs that will be broadcasted by National Geographic TV Channel, to promote Romania’s tourism brand, ANT said in a statement. (Curierul National)
Former Prime Minister Adrian Nastase Released On Parole
Romania’s former social democrat Prime Minister Adrian Nastase was released on parole, a court decided Thursday.
Nastase has served one third of a four and a half year sentence for corruption. Nastase spent a total of 604 days in prison. (Puterea)