U.S.-Romanian Nuclear Power Deal

The U.S. firm General Electric signed a deal with Romania's Nuclearetectrica to modernize that nation's nuclear power plants, yesterday, under which GE will provide maintenance and repair services for the turbo-generator and auxiliary equipment of Units 1 and 2 of the Cernavoda nuclear power plant (southeast of Bucharest); the value of the contract stands at a maximum of $146 million. The contract was signed for an eight-year period.

"This is an important moment for what development means, for ensuring energy security, both in terms of efficiency and safety. This cooperation between the two companies, which dates back to 1981, is a guarantee that Romania's nuclear energy generation is secure," Minister of Economy, Trade and Business Environment Adriean Videanu declared.