VanEck Vectors Uranium Plus Nuclear Energy ETF (NLR)

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Romania picks China's CGN to build two nuclear power units

Romania's state-owned power producer Nuclearelectrica has picked China General Nuclear Power Holding Corp (CGN) to partner with it to build two reactors, together costing an estimated 6 billion euros ($7.7 billion), at its site on the river Danube.
In a statement on Friday, Nuclearelectrica said the selection was based on CGN's expertise in similar projects and its financial resources. CGN had been the only prospective investor to file an offer by a Sept. 8 deadline.

Nuclearelectrica had initially planned to build the two reactors in partnership with six European energy firms, but those companies withdrew one by one in 2010-2013 under the impact of Europe's debt crisis.

The European Commission would need to sign off on any state aid that is provided for the construction programme.

Nuclearelectrica already has two 706 megawatt reactors, accounting for roughly a fifth of Romania's power production. They use technology from Canada's Candu Energy, owned by SNC-Lavalin Group Inc, as would the two planned reactors. (1 US dollar = 0.7817 euro)


http://af.reuters.com/article/energyOilNews/idAFL6N0SC33Z20141017