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Romanian authorities, in advanced talks with Israel Electric Co for upgrading some CET Mintia groups

Israel Electric Corporation, the largest energy company in Israel, is interested in the retechnologisation of some groups of CET Mintia, belonging to the Hunedoara Energy Complex, Energy Minister, Toma Petcu announced in a press conference on Monday, hotnews.ro informs.

“We will complete this year at Paroseni a desulphurization plant and dense slurry for group 4, following an investment of EUR 65.3 million. At the moment, the investment is made in a proportion of 97 percent and the deadline is the end of this year. With this investment, the Paroseni 4 becomes the first group in Romania according to the new emission limit values admitted by the European Union”, Petcu stated.

Later, he said that it is a project worth EUR 1 billion.

It is worth mentioning that in Paroseni, the project has a value of EUR 65.3 million, a financing contract with the European Investment Bank (EIB).

The statement was made just days after Prime Minister Mihai Tudose’s visit to Jiu Valley. Tudose declared on Saturday, at the end of a meeting with the trade unionists and with the management of the Hunedoara Energy Complex, that he wants Romania next year to no longer have to import half of the coal reserves for the winter, as happened this year.

Tudose said the Executive would try to open mines, not shut them down.

Hunedoara Energy Complex is a company with huge financial problems. In fact, last year, there were two attempts to start the insolvency process. This year, losses were reduced following huge increases in electricity prices. The high electricity price helped Hunedoara EC to cut its losses by 80 percent in 2017, to a loss of RON 169 million in the first half of the year.

About Anca Bernovici