CEZ: We're all waiting for a sign from the Romanian state about its stake in Cernavoda reactors

Foreign giants involved in the 4 billion-euro project of building reactors 3 and 4 in Cernavoda will decide by the end of this year whether they go ahead with the investment or not, say CEZ representatives.

“I wouldn’t say the project (the reactor project i.e.) is frozen. We are all waiting for the state to give a sign as to its stake in this project. All investors will decide at the end of the year whether they go ahead with the project or not,” said Martin Zmelik, chief operating officer of CEZ Romania. The Romanian state currently holds 51% in this project, which would entail a 2 billion-euro investment.

Although the authorities have said repeatedly that the stake could be reduced, no decision has been made on the matter so far. Originally the state held only 20% in the project, but later boosted its stake to 51%.

Apart from the Romanian state, which holds the majority stake through Nuclearelectrica, also involved in the project are the biggest energy groups in Europe. CEZ, Enel, RWE Power, GDF SUEZ each hold 9.15% in the company in charge of the project, while Iberdrola and ArcelorMittal Romania hold 6.2% in EnergoNuclear.