GDF Suez And Partners Exit Romanian Nuclear Power Project-Sources
January 20 2011 - 6:52AM
Dow Jones News
French utility giant GDF-Suez SA (GSZ.FR) and most of its
partners are pulling out of a nuclear reactor project in Romania
because of the lack of a clear regulatory framework and uncertainty
about the electricity demand growth in the future, a person related
to the matter said Thursday.
GDF Suez, Spain's Iberdrola SA (IBE.MC), Germany's RWE AG
(RWE.XE) and the Czech republic's Cez AS (BAACEZ) also decided to
withdraw after the Romanian government said it would cut its
planned stake to about 20% from the original 51%, the source added.
Cez said last week it was withdrawing.
Italy's Enel SPA (ENEL.MI) and European steel giant
ArcelorMittal (MT) haven't withdrawn from the project with the
others, but it makes little sense for them to stay in the project
alone, this source said.
-By Inti landauro, Dow Jones Newswires; +33 1 4017 1740;
inti.landauro@dowjones.com.