The European Investment Bank (EIB) lends EUR 300 million for the upgrading of the railway section between Simeria and the Hungarian border and EUR 250 million for the construction of a new motorway linking Cernavoda with Constanta. Both sections are located on the major Romanian East-West transport axis along the Pan-European Corridor No IV.
The railway project comprises the upgrading of 175 km long double-track railway between Simeria and Curtici as well as the doubling and rehabilitation of 9 km of the single-track railway from Curtici to the Hungarian border. The project will improve transport safety; it will increase travel speed up to 160 km/h and it will contribute to the decrease of maintenance costs. The railway upgrading will involve replacing of the majority of the existing infrastructure covering rails, sleepers, bridges, electrification and signalling and communication systems and adjust the alignment to allow higher transport speeds. In addition, stations will be refurbished and railway crossings modernised to reach higher safety standards.
The second loan of EUR 250 million will co-finance the construction of the motorway section between the cities Cernavoda and Constanta. The new four lane motorway is designed for the maximum speed of 140 km/h. It will involve nine bridges, including a 320 m long crossing of the Danube - Black Sea Canal as well as 15 over- and underpasses.
Through providing modern, high capacity transport links with the neighbouring countries both projects will help to comply with the increase of traffic.
Mr. Wolfgang Roth, EIB Vice-President, stated: The EIB supports the construction and upgrading of the Romanian transport infrastructure, particularly along the pan-European corridors that are important for the acceleration of the economic progress of Romania and its integration into the EU Single Market. In addition, a modern transport network will increase the transport safety and improve the environment in terms of emission reductions.
One of the EIB's priorities is to finance development and the rehabilitation of the pan-European Corridors that were identified taking into account changing transport patterns within Europe and the needs of Romania. These corridors are crucial for the free movement of goods in Europe. Already today, existing corridors carry almost half of all freight and passengers within the European Union.
The task of the EIB, the European Union's financing institution, is to contribute towards the integration, balanced development and economic and social cohesion of the Member States by financing sound investment. In the Acceding Countries (Romania and Bulgaria) the EIB supports investment projects that prepare for EU membership in terms of development of transport, energy and communication infrastructure, implementation of EU environmental standards, support to SME and municipality investments.
Since 1990 the EIB has provided in loans in Romania approximately EUR 4.2 billion. More than 60% of this amount was investment in transport sector, e.g. EUR 845 million for the rehabilitation of roads, EUR 660 million for motorway construction and EUR 515 million for railway rehabilitation and development.