Romanian Transp Min Plans To Resume Works On Bucharest-Danube Canal, Needs At Least EUR450M

"At the budget revision in July we’ll take all necessary measures to pay for an update of the feasibility study," Orban said.

Orban added 70% of the works on the canal took place between 1986 and 1989, and around EUR450 million is needed to complete the remaining 30%. The minister said an additional 25-30% of the sum will be needed to repair parts of the canal that have deteriorated since 1989.

The minister said he considers three financing sources to finish the project: to lease the works, to use European funds or to use state budget funds. He added he already talked to companies in Germany, the Netherlands, Italy and France about a potential lease of the works.

The minister said the most optimistic timeframe for the start of the works is one year and a half, if resources for the update of the feasibility study are assigned at the budget revision.

"A serious update of the feasibility study would take at least nine months and approving technical and economic specifications could take another six months. therefore, in one year and a half we would sign the contract to start the works, and the project would be completed three years after that," Orban said.

The canal would link the Romanian capital to the Pan-European Transport Corridor 7.