ECONOMY ENERGY INDUSTRY

Coal industry tries to come back to life: New mine to open in Oltenia

According to an Energy Ministry communiqué, the Romanian Government adopted during its meeting last week a decision concerning the re-approval of the technical-economic indicators of the investment project concerning the opening of the Jilt Nord mine at a capacity of 4.5 million tons of coal per year.
According to the document, the financing will come from the Oltenia Energy Holding’s budget and the sums needed for the payment of expropriations will come from the Energy Ministry’s budget, within the limit of the sums approved for this purpose every year. The investment has a total value of RON 4,397,157.
“This Government Decision will allow the expropriation of plots of land for the Jilt Nord mine, after years of delays, a mine that is so necessary for the development of the Oltenia Energy Holding. It is a promise we honored because the Energy Ministry and the Romanian Government understand the need to ensure an even balance of energy production sources, the government’s energy security policy being fully confirmed by the situation registered in this drought year. In this context, the mining sector needs support in order to become efficient. In fact, this Decision comes after another initiative was implemented, namely the allocation of funds from the National Investment Program for several technological upgrade works at the Oltenia Energy Holding. The investment in Jilt Nord will have a positive impact over the short-, medium- and long-term. Over 700 jobs will be secured and the socio-economic development of localities in the area will be ensured. Another goal is facilitating the drawing in of investors for the initial public offering launched by Oltenia Energy Holding,” Energy Minister Andrei Gerea stated.

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