Romanian energy holding Oltenia plans to invest a combined 2.5 billion lei
($762.5 million/554.3 million euro) in the development of two coal mines in the
southwestern county of Gorj, the country's economy ministry said.
Oltenia
plans to invest 1.9 billion lei over a period of 15 years in the Jilt coal mine,
which is expected to produce 8.5 million tonnes of coal per year, and 608.5
million lei over 72 months in Rosia mine, which will have a capacity of 8.0
million tonnes per year, the economy ministry said on Friday in a note to a
draft government decision.
The value of the investment does not include
value added tax.
The Oltenia holding, set up in 2012, includes state-run
mining company SNLO and the Craiova, Turceni and Rovinari thermal power
generation complexes.
Romania's economy ministry holds a 77.17% stake in
Oltenia and blue-chip investment fund Fondul Proprietatea [BSE:FP] owns
21.54%.