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August 11, 2022
BUSINESS

Vimetco withdraws from the construction of the Turnu Magurele power plant

The Vimetco group, a global manufacturer of aluminium products, decided to withdraw from the project of building a high-capacity coal-based power plant in Turnu Magurele, jointly with the local group InterAgro, company sources announced, quoted by Hotnews.ro According to the sources, the project was suspended under the impact of the global financial crisis. Vimetco Group, formerly known as Marco Group, is controlled by Russian billionaire Vitaly Matsitski and holds the majority stake in Alro Slatina. InterAgro is controlled by Romanian businessman Ioan Niculae. The power plant was planned to have a maximum capacity in excess of 1,300 MW (nearly equal to that of the Cernavoda NPP), at a cost evaluated in 2008 at about EUR 1.2 bln. Under the project, the plant should have become operational in 2012. Vimetco and InterAgro participate with equal shares in the joint-venture.

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