Friday, January 21, 2011

GDF Said to Pull Out of Venture Building Romania Nuclear Plants

GDF Suez SA will pull out of an agreement to build two nuclear reactors in Romania, a person with knowledge of the matter said.

The company is withdrawing from the venture because it’s been unable to agree a regulatory framework for the project, the person said, declining to be identified before an official announcement.

The EnergoNuclear venture planned for the first reactor to start in 2017, according to its website. The government currently owns 60 percent of the venture, which also includes Italy’s Enel SpA, Iberdrola SA of Spain, GDF Suez, Germany’s RWE AG and steelmaker ArcelorMittal.

To contact the reporter responsible for this story: Tara Patel in Paris at tpatel2@bloomberg.net.

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net.

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