Romania chooses to use French banks

3 June 2002

Romania appointed French banks Societé Generale and Credit Lyonnais to raise $350 million in loans to complete work at Cernavoda 2.

"We have started talks with the consortium on the terms of the external financing," said Teodor Chirica, director of plant owner Nuclearelectrica.

Chirica said the credits, guaranteed by the state and with maturities of up to 20 years, would be used to import equipment from Canada, Italy, France and the USA.

Romania aims to finalise work at Cernavoda 2 by 2004.

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