Chinese bank ‘to fund Romanian nuclear project’

A Chinese bank has reportedly agreed to finance the construction of two new nuclear reactors in Romania. A Romanian official told reporters the Industrial and Commercial Bank of China said […]

By Priyanka Shrestha

A Chinese bank has reportedly agreed to finance the construction of two new nuclear reactors in Romania.

A Romanian official told reporters the Industrial and Commercial Bank of China said it would fund the reactors and is “considering opening a subsidiary” in Romania.

Liviu Dragnea, Romania’s Deputy Prime Minister has been quoted as saying: “The bank’s president presented the management’s decision to financially support the energy projects Romania and China agreed upon, namely the construction of the third and fourth reactors in Cernavoda as well as other investment projects currently in advance negotiations.”

There are currently two operating nuclear reactors in Cernavoda, which produces around 20% of Romania’s total electricity production.