Ponta: Revenues from Electrica's listing to be used for Romania-Rep. Moldova energy infrastructure

Prime Minister Victor Ponta said on Monday that all financial resources obtained from the sale of shares of Electrica company, which may be actually listed on the stock exchange at end-June, will be used to invest in the energy infrastructure connecting Romania to the Republic of Moldova.

"We decided not to use the financial resources we shall get from the IPO (initial public offerings — editor's note) directly for the budget (...), but to leave all funds at the company's disposal to invest them in the infrastructure connecting Romania to Moldova. (...) We decided, as a political decision, to leave the money to the company to invest them in enhancing the energy infrastructure connecting Romania to Moldova, Ukraine," Ponta told the plenary session of the Security in the Black Sea Region programme, organized at the Parliament Palace.

Ponta said this is the kind of political decision only Romania should take.

"Perhaps even the EU will understand this is the time to invest in energy infrastructure," Ponta said.

The actual listing of Electrica should be made at the end of June, with the subscription to begin at the middle of next month, according to a release the Energy Department sent to AGERPRES. According to Minister-delegate for Energy, Razvan Nicolescu, the Energy Department intends to turn Electrica's listing into the biggest listing ever held on the Bucharest Stock Exchange.AGERPRES