Wednesday, March 5, 2008

Iberdrola consortium to build 2 nuclear plants in Romania of 750 MW each

MADRID (Thomson Financial) - Iberdrola SA said it is part of a consortium with six European companies to construct and run two nuclear complexes of 750 Megawatts each in Romania.

Separately, Romanian authorities said total investment on the project will be around 2.2 bln eur.

In a statement, Iberdrola (other-otc: IBDRF.PK - news - people ) said it will have 'at least 10 pct' of the project, in which the Romanian state run Nuclearelectrica, Italy's Enel, Germany's RWE, Suez's Belgian unit Electrabel, Czech CEZ and the Pan-European ArcelorMittal also hold stakes.

The consortium will make an initial investment of 30 mln eur to build and operate the two nuclear sites, Iberdrola said.

The plants are seen coming on line by 2014-2015.

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