Romgaz extended the term of execution of the contract for the Iernut power plant

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Romgaz extended the term of execution of the contract with DuroFelguera and Romelectro, for the Iernut power station, according to a report sent to the Bucharest Stock Exchange.

In December, Adrian Volintiru, the general director of Romgaz, said that works at Iernut should be completed by the end of May 2020: “I hope to respect the deadline. It’s a turnkey project. Our obligation, at Romgaz, is to pay the bills and offer a working front. However, we do much more: we deal with summons, requests, work groups. We have the approval of the shareholders for the purchase of legal consulting services in the possible dispute with the association of DuroFelguera and Romelectro.” In fact, the deadline was extended until the end of May, according to financialintelligence.ro.

In 2016, the national gas producer Romgaz signed a contract worth 268 million euro, excluding VAT, with the companies Duro Felguera and Romelectro, for the completion of a new power plant for the generation of electricity within the Iernut thermal power unit.

The plant was supposed to be in use by early 2020, according to the initial plans, but there were registered delays, both as a result of disagreements between partners and, in particular, a provision of GEO 114 regarding the increase in construction wages, said previously the director of Romgaz.

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