Energy Ministry abstains to the project to establish the Romanian Investment Fund

Newsroom 09/10/2018 | 15:02

The Romanian Energy Ministry abstained to approve the project for the establishment of the Romanian Investment Fund. Finance Minister Eugen Teodorovici stated on Tuesday that it is about the companies that will be included in the fund and the investment needs.

”It is an opinion from a minister without whom the Ministry of Justice cannot do anything. The Justice Ministry has given its opinion but has to have the approval from the Energy Ministry,” Teodorovici said.

The Finance Minister said he would like to rely on my conviction also in the case of Anton Anton, the Energy Minister.

In the initial project debated in Parliament, 33 state companies were supposed to be included in the Sovereign Investment Fund, including the Electricity Distribution and Supply Company – Electrica SA, E.ON Energie Romania SA, OMV Petrom SA, Telekom Romania Communication SA, Engie Romania SA, Antibiotice SA, National Company for Boiler Control, National Company of Airports Bucharest, National Company of Natural Gas Romgaz SA Chimcomplex S.A., High Pressure Installations and Pressure Receptacles S.A., National Company Unifarm S.A., National Company Romanian Lottery S.A. and IAR S.A.

Later, the Economic Policy Committee of the Chamber of Deputies introduced ten more companies with no profit, namely the National Railway Company C.F. R S.A., Radiocommunications Society S.A., S.C. Energy Complex Oltenia S.A., Romanian Post, Timişoara Airport Traian Vuia, Midia S.A. Thermoelectric Plant, Administration of Danube Fluviale Ports S.A. and the National Navigation Canal Administration Company S.A.

Many of the companies listed are in the energy sector and their investment programs could be affected after inclusion in the Sovereign Fund. FSDI operations are funded, among other things, by dividends received from their holding companies.

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