Romania seeks Chinese financing for major energy projects

By bne IntelliNews July 1, 2013

Romanian PM Victor Ponta is paying a visit to China in an attempt to set in motion the major energy projects envisaged by Chinese companies in Romania, Ziarul Financiar reported.

Among the projects are the expansion of the Cernavoda nuclear plant, the pumped storage hydropower plant Tarnita-Lapustetsi and the undersea power connector with Turkey.

Energy minister Constantin Nita also visited China earlier this year and outlined a list of seven major projects where Chinese companies are invited to invest. As many other European countries, Romania runs a massive trade deficit with China – of some USD 2bn [1.2% of GDP] last year.

The country, however, hosts no major Chinese investments as most of the foreign companies with Chinese owners are in the trade sector.

Ponta will meet Chinese President Xi Jinping and PM Li Keqiang – both appointed at their seats last year and thus expecting to rule the country for the next decade. Jinping also paid a visit to Romania back in 2009, when he was a vice-president.

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