China Huadian Engineering Mulls Energy Investment In Romania

04.12.2011 By Andrei Circhelan

China Huadian Engineering plans to invest in Romanian energy production, especially mining and coal-based power plants, the local Economy Ministry said late Monday after talks with the Chinese company.

China Huadian Engineering plans to invest in Romanian energy production, especially mining and coal-based power plants, the local Economy Ministry said late Monday after talks with the Chinese company.

"The representatives of the Chinese company showed an interest to invest in mining and coal-based energy production," the ministry said in a news release.

The company is part of the China Huadian Corporation, which operates in several markets, including Russia, India, Vietnam, Indonesia and Saudi Arabia.

China Huadian was founded by the Chinese government in 2002, along with another four corporations. Together, the five energy producers control 45% of China's installed energy capacity, according to US magazine Forbes.

Sources on the Romanian energy market have recently said the China Huadian group seeks a stake in Romanian EnergoNuclear, the company building nuclear power plant reactors 3 and 4 at Cernavoda. The reactor construction project is estimated at EUR4 billion.

Another Chinese company, State Grid Corporation of China, or SGCC, is interested in buying the 15% stake Romania plans to sell in state-owned power grid operator Transelectrica (TEL.RO), people close to the matter told MEDIAFAX recently.