A joint-venture company will be formed to develop the project, in which 51% will owned by CGN and 49% by Nuclearelectrica.

According to Romanian media, Nuclearelectrica, China General Nuclear Power Corporation and CGN Central and Eastern Europe Investment signed a preliminary investors’ agreement for the construction of two nuclear reactors in Cernavoda.

The nuclear power plant in Cernavoda currently operates two 700-megawatt reactors, covering around 20% of the country’s energy consumption.

A joint-venture company will be formed to develop the project, in which 51% will owned by CGN and 49% by Nuclearelectrica. The mentioned joint-venture should be set up within 60 days of the signing of the preliminary agreement.

Romania has been talking about developing two more nuclear reactor units at its plant in Cernavoda since 2003. Units 3 and 4 have been in conservation since 1992.