“Construction works will start in the first half of next year and will take at least three years. (..) We will set up a joint venture in which CE Oltenia will hold 10% to 49%, depending on how much money it has,” said CE Oltenia general manager Laurentiu Ciurel.
The Romanian government approved a memorandum earlier in September for the construction of the 600 MW coal-fired power plant, estimated to cost EUR847 million.
The government said in a statement at that time that Romania’s thermal energy system has not seen any major investments in the last 25 years and that some of the equipment and materials needed for the construction and exploitation of the new plant will be provided by the Romanian industry. It said the project will create more than 4,000 jobs and the new power plant will use 4.6 million tons of coal a year.
The Chinese investor was selected following an international tender held in May 2012.