Romania on Wednesday approved the sale of 10 percent of its stakes in two national power firms, one of them specialising in nuclear energy.

The centre-right government said it had drawn up a privatisation plan to "attract financial resources to implement development and modernisation projects" in Hidroelectrica, the main electricity provider, and Nuclearelectrica.

An investment bank will be chosen by the middle of February and the prospectus of the sale will be launched at the end of July.

The economy ministry holds 80.05 percent stake in Hidroelectrica and 90.28 percent of the shares in Nuclearelectrica. The rest is held by Fondul Proprietatea, set up by the government to indentify people whose properties were expropriated during communist rule.