INVESTMENT OF ONE BILLION EUROS The study for the Chinese thermoelectric plant of Rovinari, ready in autumn

The feasibility study for the thermoelectric plant which is scheduled to be built by China Huadian Engineering at Rovinari will be ready in September, said Laurenţiu Ciurel, the general manager of the Oltenia Energy Complex. The coal group with an installed power of 600 MW represents an estimated investment of 1 billion Euros.

Mr. Ciurel said: "During the working visit which we made to China and which ended last week we had meetings during which we talked about the project. The project is on schedule, and the Chinese party has told us that the feasibility study will be ready in September. Thus, this autumn, both parties will be able to make the investment decision and the project company will be able to be set up".

The Oltenia complex, which comprises the plants of Craiova, Rovinari and Turceni, as well as the former National Lignite Company "Oltenia", will participate in the company for the project of the new plant with the contribution in kind (the assets found at the location allocated to the investment). Thus, the Oltenia complex will have a stake of about 7-8% of the project company, Laurenţiu Ciurel estimates.

The energy produced by the Chinese in the thermoelectric plant which they will build at Rovinari will be exported, for the most part to Austria and Turkey. The new group will not compete with the Oltenia complex and other similar plants in Romania. The Chinese will provide financing through their export bank, and Romania will not provide any state guarantees.

The new unit of Rovinari will create 1,000 jobs and will create an additional 3,000. The construction works are estimated to take 36 months from the date the building permit will be produced. The new plant will consume about 6 million tons of lignite a year.

Laurenţiu Ciurel also told us that together with the Chinese, his company intends to develop several photovoltaic parks on the grounds of the plant (free areas from the area of the cinders and ash deposits). The Chinese are also participating in the call for bids for the modernization of the ^ group of Turceni (the machine room).

Also in partnership with the Chinese, the Oltenia Complex wants to modify one of the units of the Craiova II plant, to allow it to work on natural gas, which would result in it providing better balancing services.