CNU gets 28 mln. lei from Nuclearelectrica, can reimburse the incompatible state aid from 2016

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Bogdan Tudorache

Nuclearelectrica bought about 58,000 kg of natural uranium in the form of sinterable powder from the National Uranium Company, worth about 27.9 million lei, according to a report submitted to the Bucharest Stock Exchange.

Thus, CNU can finance its debt of 13 million euro that it has to pay to the Romanian state, following the declaration of the 2016 state aid as incompatible by the European Commission.

The European Commission found last month that the various measures of public support in favor of the National Company of Uranium SA (CNU) in Romania are not in line with the EU regulations regarding the state aid granted to the companies in difficulty, according to a press release of the European Executive.

As a result, Romania cannot implement the support measures provided for in the restructuring plan. Also, the country must recover from the company the incompatible state aid, worth 13 million euro, granted in 2016, and the related interest, says the European Commission.

On June 12, 2017, Romania informed the European Commission about the CNU restructuring plan, company facing financial difficulties. The restructuring plan came after an emergency aid granted to keep the company active, worth about 13 million euro (62 million lei), which the EU Executive approved temporarily on September 30, 2016. European Commission has concluded that the 13 million euro state aid, granted in 2016, and related interest, are not compatible with EU state aid regulations and must be recovered.

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