CGN wins $7.7b Romanian nuclear deal

China General Nuclear Power Group, the country's biggest nuclear power reactor operator, has signed a $7.7 billion agreement to set up two nuclear reactors in Romania.

The memorandum of understanding, signed on Monday between CGN and Romanian state-owned nuclear company Nuclearelectrica SA, is for the unit 3 and 4 of the Cernavoda nuclear power plant in the European country. The agreement covers investment, funding, construction, operation and decommissioning, a CGN statement said.

CGN will also form a joint venture with Nuclearelectrica, and the venture will be the only platform to work on the nuclear projects in Romania, according to the statement.