Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS


Turnu Magurele-Nikopol hydropower plant, Prut MHPPs, other projects expecting China investments

Minister of Economy Constantin Nita said on Monday that Chinese investors are expected to participate in the construction of major energy projects, like the Nikopol - Turnu Magurele hydropower plant, or the chain of micro-hydropower plants (MHPP) on the Prut River.

'I'm happy to see again in this hall many company representatives we have been holding talks with in the past year and a half. (...) In the energy sector, as has been previously said, we have a very good cooperation start. We already work together on nuclear energy, on energy produced from coal or water. I would also mention a few projects we haven't yet tackled in the discussions with you and which I think would be of interest. I am referring to the Turnu Magurele - Nikopol hydropower plant we would want to carry out together with our Bulgarian partners. I would also challenge you with a chain of micro-power plants on the Prut River, on Romania's border with the Republic of Moldova, with the submarine power cable linking Romania to Turkey. I am convinced that these projects, as well as the others, will be completed in the medium-term,' said the Minister of Economy.

He added that Romania is interested in investments in the mining industry.

'In the industrial sector, we are interested in the privatization of Oltchim - one of the largest petrochemical plants in Europe - as well as of some medical equipment manufacturers, or some cast iron pipe producers and others,' Nita added.

Referring to what Romania has to offer Chinese investors, the Minister of Economy mentioned macroeconomic stability, a 16 percent profit tax, the tax break for the reinvested profit and, most likely, the upcoming five percent reduction of the social security contribution. 'Also add to these facilities the respect and admiration of local and central authorities for Chinese companies,' Nita stressed.

The Minister also mentioned the six projects of technology parks to be developed in the next period in Romania, five of them specializing in electronics & telecommunications, food industry, extractive and mining industry, IT, wood processing, and the sixth designed to collect everything that is produced in these industrial parks, 'a logistics park in the Port of Constanta.'