Japanese corporation Sumitomo interested in CET Govora

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A delegation of the Japanese corporation Sumitomo voiced on September 17 the interest to participate in the technological development of the Ramnicu-Valcea-based CET Govora, producer of electricity and supplier of technological steam and heating in Ramnicu-Valcea (center-south).
 
The Japanese delegation held talks with the general manager of CET Govora, Mihai Balan and with President of the Valcea County Council, Ion Calea, about the main objectives of the programme in the next 25 years of modernisation of the company, which entails investments of 200 million euros.
 
In turn, the Japanese guests presented their intentions of getting involved in the development of thermal power plants and of the networks of water sewerage of Romanian big cities. They were interested to know whether CET Govora has contractual guarantees for the supply of technological steam and heating for long periods.
General Manager Mihai Balan told the Japanese delegation that the company concluded a 10 year long programme with Uzinele Sodice Govora company and a 25-year contract with Ramnicu Vlacea Town Hall, respectively with domestic consumers.
 
In the outlook of a future collaboration, the Japanese delegation was presented the programme of upgrade and development of CET Govora” and the project of involvement of the company in national programme ‘’Heat and comfort”.
Established in 1959, company CET Govora is the first producer of electricity that was outsourced from the national power grid, through a Government’s decision in 1997 and as independent producer and supplier, over the past 11 years, CET Govora was subordinated to Valcea County Council, which is the company’s sole shareholder.
 
In November 2004, the metering of the heat and warm water supplied by CET Govora was finalized and the relatively low price of these services for the population prompted the stabilization of the market, as Valcea is one of the few cities in Romania where citizens preferred not to give up the city’s heating system.
Set up in 1919, corporation Sumitomo has at present a share capital of 219.3 billion yens (some 1.48 billion euros) and 5,0008 employees, who are working in 26 locations in Japan and 122 locations in 65 countries of Asia, Africa, North America and South America, Europe and Oceania.
 
On Sept. 4, Sumitomo corporation announced it would get involved in the production of electricity and water desalination in the United Arab Emirates, after having purchased a stake in the a development project belonging to the National Electricity Company of Abu Dhabi.
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