Saturday, November 10, 2007

Czech company wins bid to expand nuclear power plant in Romania

The Associated Press

PRAGUE, Czech Republic: The Czech Republic's dominant power utility, CEZ AS, said Friday it has won the bid to build two more reactors at Romania's only nuclear power plant.

The bidding, held by Romania's state-owned Societatea Nationala Nuclearelectrica, the plant's operator, was for a €2.2 billion (US$3.2 billion) project to build two 720-megawatt reactors at the Cernavoda plant, to supplement the plant's two existing reactors. Cernavoda is a town on the Danube River in southeast Romania.

The new reactors are planned to be operational by 2015, CEZ said.

The Czech company said it is due to start talks with Nuclearelectrica on the contract in late November, and expects the talks to last several months.

CEZ owns companies across central and eastern Europe, including three electricity distribution companies in Romania.

At 1305 GMT, CEZ shares in Prague traded down 5 koruna (euro.2; US$.3), or 0.4percent at 1,387 koruna (euro51.6; US$75.8), in a broadly lower market.

The nuclear power plant in Cernavoda operates two units, one opened in 1996 and the other earlier this year. The two reactors account for more than 10 percent of the country's electricity.

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