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Romanian Capital’s New Subway Mainline To Cost EUR883M

Construction works on a new mainline of the Bucharest subway to connect the city center to the western Drumul Taberei neighborhood will cost EUR883 million, of which 45% will come from a European Investment Bank (EIB) loan.
Romanian Capital’s New Subway Mainline To Cost EUR883M
12 nov. 2009, 14:33, English

Acting Transport Minister Radu Berceanu said the constructor for the subway line will be selected in spring next year unless no auction challenges delay the process, and the pace of works will only depend on the pace at which funds are assigned.

Romania signed Thursday a financing agreement with the EIB for EUR395 million, said acting Finance Minister Gheorghe Pogea.

The country should pay back the loan in 25 years at the latest and can use the money by December 31, 2014.

The EIB loan money will be attracted in tranches, as the Transport Ministry needs it, as soon as the loan is ratified by the Parliament.

Romania will pay EUR488 million from the state budget for the new subway line, which will be 9.05 kilometers long and will have 14 stops.