BUSINESS

Chinese ambassador: At least EUR 4.6 billion in investments in Romania



1,200 businesspeople took part in the third edition of the China – Central Eastern European Economic Forum held last week in Bucharest, Huo Yuzhen, the Chinese ambassador to Romania stated for ZF. “The attendance at this year’s forum was four times larger than at last year’s China – Central Eastern European Economic Forum held in Warsaw,” the ambassador said further, zf.ro notes. She underlined that all agreements concluded on the occasion of the forum between Romania and China, which could involve Chinese investments of at least EUR 4.6 billion in Romania, will be implemented in the near future. “Mr. Prime Minister Li Keqiang said we should not put a lid on this amount. Since the document signing ceremony only lasted 15 minutes, only the larger projects were selected. Based on further discussions, smaller projects will also be gradually implemented,” the ambassador pointed out.
The most expensive project involves the expansion of the Cernavoda nuclear power plant, in relation to which the management of Nuclearelectrica and the President of China General Nuclear Power Corporation have concluded a letter of intent. However, the ambassador emphasized details of the contract, as well as the Chinese contribution to the project and the division of shares in the company that will make the investment are still being discussed. The Chinese party will not provide nuclear reactors, she added, since the two functional units at Cernavoda use CANDU Canadian technology and the new units should use the same type of technology. In fact, after the conclusion of the letter of intent, representatives of Canadian Company Candu Energy announced they are prepared to ship reactors 3 and 4 to Cernavoda, in collaboration with China. “In the future, Chinese technology could be used if other nuclear reactors are built,” the Chinese ambassador said.
In addition to the Cernavoda project, Romania and China concluded other agreements of intent related to investments in new thermal power stations and a very large hydroelectric pumping power station, the latter of which exceeds EUR 1 billion. The only energy project developed by a private Romanian company, in connection with which an agreement was concluded last week, involves the construction of a wind farm in Vaslui County. Ming Yang Wind Power Group, a Chinese wind turbine manufacturer, will ship 100 units for a wind energy project developed by a company owned by Romanian businessman Bobby Paunescu. “The wind energy project will be started either this year or early next year,” the ambassador concluded.

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