The complex is set to include thermal power producers Craiova, Turceni and Rovinari, where the Proprietatea fund holds minority stakes, as well as mining company SNLO.
“The agreement with Fondul Proprietatea was to list the upcoming Oltenia complex within 24 months from creation and to give it dualist management, namely an supervisory council and a directorate, like OMV Petrom (SNP.RO) has,” people close to the matter told MEDIAFAX.
The government initially intended to create two energy giants, which would cluster the bulk of local state-owned energy producers. However, authorities announced recently that the two giants, Electa and Hidroenergetica, would no longer be created, and two smaller companies would be formed, the Oltenia Complex and the Hunedoara Complex.
Hunedoara would include thermal power producers Paroseni and Mintia, as well as the viable mines of mining company CNH.