A heat power plant worth 1 billion euro unveiled by Vimetco, a majority shareholder in Alro Slatina, and InterAgro will be built in Turnu Magurele, southern Romania and commissioned in 2012.
Vimetco and Interagro set up a joint venture that will carry out the project.
The joint venture, called TM Power, which is equally controlled 50 percent by the two companies, was registered late last week in Turnu Magurele.
The heat power plant, with a minimum capacity of 1,000 MW, will run on coal and use state-ofthe-art technology. According to electricity market analysts, the investment might reach 1 billion euro.
The newly created joint venture has signed a contract with a consortium made up of Trapec-Tractebel Project Managers – Engineers & Consultants and Tractebel Engineering Energy & Industrial Solutions Unit of Belgium for a feasibility study and related services, daily Business Standard reports.
Vimetco owns and operates electricity generation facilities in China in excess of 1,000 MW.
The company is a vertically integrated primary and processed aluminium manufacturer, with facilities in Romania and China, a holding company in the Netherlands and a management firm in Switzerland.
Interagro is a fully privately-owned Romanian-UK joint venture specialising in cereal and technical plant farming and foreign trade, particularly export of chemical fertilisers.
Alro Slatina is the largest user in Romania’s electricity system, with a consumption rate of 9 percent of the total.
Alro Slatina, a local aluminium maker and trader, is also the only manufactures of primary aluminium in Romania and the largest in Eastern Europe.
It was established in 1991 as a share company following a take-over of a 65-percent stake from the late aluminium works of Slatina.