Energy minister Virgil Popescu says that “the entire energy development strategy is thought for the passage from coal to natural gas”, and explained that after Romania will increase its capacities for natural gas extraction “there will be some reserve coal units for crisis situations.” “We must consider Romanian reality. Romania has four coal mines – I mean deep mines, because there are mines and there are quarries – there are four coal mines functioning at present, two of which are in closure procedure, according to the present law. We are having talks with the European Commission to extend the closure term until 2024. For the other two we assumed a phase out for 2030 plus two more years. These four mines are taking out coal with which Paroseni plant could function two or three days per week and produce electricity,” said Virgil Popescu at Realitatea Plus on Monday. As for the coal quarries from Oltenia Energy Complex, the minister explained there had been talks with company managers and the number of employees would grow by 600, in order to increase coal production. “Romania has gas in the Black Sea, it will not depend on Russian gas. The restructuring program is designed so that in 2016, when production capacities are ready for the passage from coal to gas, we will have the Black Sea gas for consumption. Obviously, there will be reserve coal units for crisis situations. The entire energy development strategy is thought for the passage from coal to natural gas. Obviously, renewable energy, nuclear energy, by consuming gas from our own domestic production, not based on imports,”the minister added.
Almost 68% of Romanians say they would like the level of foreign direct investment in Romania to increase (versus 15% who would like to see fewer foreign investors), according to a poll "on the population's attitude regarding economic patriotism and the vulnerabilities of the democratic regime," conducted by INSCOP at the behest of the Concordia […]
Belgian logistics real estate developer WDP has announced a EUR 52 million investment in expanding its logistics infrastructure in Dragomirești, on the outskirts of Bucharest, as part of a broader EUR 107 million development program also covering Ridderkerk in the Netherlands, according to
Romanian telecommunications group Digi Communications (BVB: DIGI) announced on April 10 that its subsidiary Digi Romania concluded on April 9 a notification regarding an additional credit facility of EUR 200 million to a senior facility agreement dated April 21, 2023, according to a note sent by the group to investors. The facility has a maturity […]
German discount store chain Penny plans to reach a network of 1,000 stores in Romania by 2035, from 417 currently, and earmarked a budget of EUR 3 billion for local development, according to the company's CEO Daniel Gross, quoted by Revista Progresiv. "In our first analysis...
No price hikes are expected in the short term while the prices might decrease in the long term, Romanian finance minister Tanczos Barna told news channel Digi24, commenting on the effects of the tariffs imposed by the...
Romania's rapidly rising public debt remained steady through January, ending the month at RON 964.4 billion (EUR 193.8 billion), or 46.8% of GDP, according to data published by the Finance Ministry. With no FX or Fidelis bond issue to households in the first month of the year, the public debt has remained constant. However, EUR 4 […]
