Varujan said the government can no longer afford a majority stake in the Cernavoda project, which is estimated at EUR4 billion.
“We must accept a minority position in the project,” he told reporters.
The economy ministry controls 84.65% in EnergoNuclear, a joint venture set up to build the two new reactors. The ministry plans to cut its stake in EnergoNuclear to around 40% and wants to attract new investors, after four of its initial six partners withdrew their funds, citing economic and market uncertainties.
Romania organized two auctions last year to select new investors, but with no results.
The Cernavoda project is not the only investment in danger of being sidetracked. The government has no money to support the construction of a EUR1.2 billion hydropower plant in Tarnita-Lapusteti, or the connection to the national power grid of tens of thousands of households, Vosganian said.