Hidroelectrica

Romania and Bulgaria plan to build two hydropower plants on the Danube to be used jointly on the model of the Iron Gates hydropower plants operated jointly by Romania and Serbia, according to a document published on Tuesday by the Bulgarian government.

National chairman of the Social Democratic Party (PSD) Marcel Ciolacu said on Monday that the Social Democrats have completed their own version of Romania's draft national budget for 2021 they will unveil at a later date. "We have completed our draft national budget for 2021 that we will unveil at a later date and that is also sustainable.

Hidroelectrica and STEAG GmbH have signed an agreement on the takeover by the Romanian hydro power producer of the Crucea Wind Farm and STEAG Energie Romania, following a highly competitive process involving both local and international bidders, according to a Hidroelectrica release submitted on Wednesday, AGERPRES.

Bucharest, Dec 4 /Agerpres/ - The Ambassador of the United States of America (USA) to Romania, Adrian Zuckerman, announced on Thursday, during a visit to Portile de Fier [ed.n.- Iron Gate Hydroelectric Power Station], the intention of Exim Bank US to support strategic investments in Romania and to ensure lines of credit of about 7 billion US dollars.

Developing local investor community so as to have a much higher participation of the Romanian population in the capital market is the top priority for the Bucharest Stock Exchange (BVB), CEO Adrian Tanase affirmed. "It is very important to have a dialogue with companies and familiarize them with the mechanisms of the capital market so that entrepreneurs fully understand its advantages.

The government should be genuinely concerned to develop the country's capital market, and the listing of state-owned companies such as Hidroelectrica and Bucharest Airports could significantly contribute to Romania's promotion to emerging market status, says Johan Meyer, Franklin Templeton Investments CEO and Fondul Proprietatea portfolio manager.

Premier Victor Ponta said on Wednesday that steps to list another state-owned company will be taken depending on the completion of the required procedures, adding that in Hidroelectrica's case, a court solution is sought to sooner get the company out of insolvency and have it listed on a stock exchange.

Hidroelectrica recorded, after the first 11 months of 2014, a record profit of 1.073 billion lei, up by 28% from the same period of last year, when the company posted a profit of 841 million lei, a company's release informs on Monday.

The Portile de Fier (Iron Gates) trade union of the employees of Hidroelectrica hydro power company will sue the Euro Insol Company led by Hidroelectrica's official receiver Remus Borza, for damages to Hidroelectrica, union leader Cristinel Popescu said in a press conference on Saturday.