Enel’s Mochovce Project Faces Delay, Higher Costs, Sme Says

The construction of two new reactors at Mochovce nuclear plant by Enel SpA (ENEL)’s Slovak unit will cost more than planned and will be delayed by two years, Sme reported, citing Economy Minister Tomas Malatinsky.

The project is set to be completed by 2015, compared with the original deadline of 2013, while costs are expected to rise to 3.7 billion euros ($5 billion) from the originally estimated 2.8 billion euros, the newspaper quoted Malatinsky as saying.

The plant is operated by Slovenske Elektrarne AS, in which Enel owns 66 percent and the Slovak government holds the rest. The company will not pay dividends until 2018 to cover the project’s costs, the newspaper said.

To contact the reporter on this story: Radoslav Tomek in Bratislava at rtomek@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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