International interest in Cernavoda's Unit 3

Atomic Energy of Canada Limited (AECL), Ansaldo Italia and Korea Hydro&Nuclear Power Co. Ltd (South Korea) are planning to participate in conducting the feasibility study for completing Unit 3 of the nuclear power plant in Cernavoda, the Industry and Resources Ministry officials say. “The drafting will begin next month and is set for completion by yearend. This study has to demonstrate the project is feasible, that is the electrical power comes at competitive production costs. The conclusions of this feasibility study will be presented to the Industry Ministry and the Government some time by Q4, 2003 – Q1, 2004,” Ioan Rotaru, general manager of Societatea Nationala (National Company) Nuclearelectrica told Ziarul Financiar. The Canadians and the Italians discussed with the Industry Ministry officials about the enforcement of the commercial contract for Unit 2 signed last May. “This contract will be also financed by the foreign credits granted by SociA©tA© GA©nA©rale, endorsed by the Industry and Resources Ministry and secured by the Government,” the ministry officials say. ZF