“The financial crisis is making us rethink the whole project for the construction of the Turnu Magurele plant, and to reevaluate the parameters of this project. Electrical equipment producers should cut prices, then we must see if we have access to financing, and if so, in what conditions,” according to a statement for Business Standard by Marian Nastase, Chief Financial Officer of Vimetco, partner of businessman Ioan Niculae, owner of Interagro, the largest importer of gas on the local market, in the 1,300 MW thermoelectric plant project.
Vimetco is majority shareholder of the Alro Slatina aluminum producer, the largest local electricity consumer, and initiated this project to ensure the necessary 4 TWh annual energy from own sources.
Niculae told Business Standard that he is negotiating with “some of Europe’s largest energy companies,” that would be interested in participating in this investment. “We have Vimetco, the consumer. We have the necessary assets – the land, railway, natural gas – and we are looking for a third strategic partner, to ensure financing and electricity sales, because we will produce more than Alro consumes,” Niculae said.
