UPDATE 2-RWE, Iberdrola, GDF Suez exit Romania nuclear plan

Thu Jan 20, 2011 3:16pm GMT

* Economic, market uncertainties make investment hard-groups

* Easter European nuclear plans sapped by funding issues

* Three groups say committed to develop new projects abroad

(Adds details, background)

By Marie Maitre and Tom Kaeckenhoff

PARIS/FRANKFURT, Jan 20 (Reuters) - Power groups GDF Suez GSZ.PA, Iberdrola (IBE.MC: Quote) and RWE (RWEG.DE: Quote) said on Thursday they were pulling out of a multi-billion dollar nuclear project in Romania, confirming an earlier report by Reuters.

"Economic and market-related uncertainties surrounding this project, related for the most part to the present financial crisis, are not reconcilable now with the capital requirements of a new nuclear power project," the groups said in a joint statement.

This leaves only two foreign firms in the project, Italy's Enel (ENEI.MI: Quote) and a local unit of ArcelorMittal (ISPA.AS: Quote).   Continued...

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