Hunedoara Energy Complex is very close to insolvency, given its difficult situation and the large number of requests in this regard, Andrei Gerea Energy Minister said in an interview for Mediafax on Friday.
“This should not scare us. It was seen that in Hidroelectrica case (ed. note ‘the insolvency’) has produced very good results,” the minister said. He added that a consultant was hired for a restructuring plan and to find solutions to redress the society.
As a result of the losses in 2013 and 2014, Hunedoara Energy Complex is facing serious liquidity problems.
As regards Oltenia Energy Complex, the authorities have not abandoned the IPO idea, but, for the moment, the company is going through a bad period. “You can not get a good price on the shares and then it’s not worth to sell it,” Gerea said.
On the other hand, he pointed out that the Romanian authorities and the selected Chinese investor for the construction of reactors 3 and 4 at the Cernavoda nuclear power plant will complete in two to three weeks the memorandum underpinning the contract.