Nita: Hidroelectrica and Electrica to be listed on Stock Exchange in June, Oltenia Energy Complex in Oct.

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The Department for Energy is within schedule as regards the commitments made to the International Monetary Fund, Minister-delegate for Energy Constantin Nita told a specialized conference on Thursday, adding power companies Hidroelectrica, Electrica and Oltenia Energy Complex will be listed on the Stock Exchange this year.

"We are within schedule as regards everything we have pledged. We will list (hdyro-electric power producer) Hidroelectrica and (electric power company) Electrica in June and Oltenia Energy Complex (mining company) will be listed in October. You will certainly make profit if you invest in such companies", Nita said.

He stressed last year was a successful one for the listing strategy, after three successful listings of natural gas producer Romgaz, nuclear power producer Nuclearelectrica and an additional share package of natural gas transporter Transgaz.

When asked if the time for the listing is the best one, given that the foreign financial markets have yet to emerge out of the crisis, Nita answered: "Yes, the Romanian companies must open their capital to the small investors and big investors alike. The money will be used for upgrading. All the money resulted from the stock exchange sales remains in the companies".

Nita argued that the companies, in this way will win the market trust and will get bank credit easier.

"We have the duty, as Romanians, that these companies should become the most important in the region", he added.

The Romanian Government listed a 10 percent stake in Nuclearelectrica in last September, and thus this company became the first Romanian state-owned power producer to be listed on the capital market.

In November, a 10 percent stake in natural gas producer Romgaz was listed on the Bucharest Stock Exchange and alternatively on the London stock market.AGERPRES


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