Business in Romania blog
The business in Romania blog writes about the Romanian business landscape, doing business in Romania, investing in Romania business and debating on business issues in Romania. Check this Blog's Policy here.

Wednesday, April 06, 2005
Business in Romania blog
Romania's new centrist government said on Tuesday it was asking U.S. banks to lend funds needed to complete a controversial motorway being built by U.S. construction giant Bechtel.
The European Union, which Romania is to join in 2007, has slammed the 2.8 billion euro deal masterminded by the former ruling ex-communists because it was awarded without a tender, a move not allowed under EU rules.
Last week, centrist Prime Minister Calin Tariceanu said the project was not a priority for his cabinet, which was keen to build another road with EU backing because it is part of the wealthy bloc's European transport corridors.

The EU is sponsoring, through the European Investment Bank [EIB.UL], a motorway connecting Bucharest with the western city of Timisoara, at the border with Hungary, a road running almost parallel with the controversial Bechtel project.

Bechtel's four-lane, 415-km (258-mile) motorway, on which work started last June, is expected to be completed in 2012 and has been designed to link the Transylvanian city of Brasov with the town of Bors on the border with Hungary.

The review carried out by British firm Hyder Consulting Ltd said the price of the project was fair.

For 2005, the government had earmarked 360 million euros from the state budget for the motorway but the figure will have to be cut by about 100 million euros to reduce a ballooning budget deficit.

Posted by Iulia Rasoiu : 4/06/2005 12:33:00 pm Romania seeks U.S. loans for road project
Business in Romania blog
Business in Romania blog

Business Archives

06/01/2004 - 07/01/2004
08/01/2004 - 09/01/2004
09/01/2004 - 10/01/2004
10/01/2004 - 11/01/2004
11/01/2004 - 12/01/2004
12/01/2004 - 01/01/2005
01/01/2005 - 02/01/2005
02/01/2005 - 03/01/2005
03/01/2005 - 04/01/2005
04/01/2005 - 05/01/2005
05/01/2005 - 06/01/2005
06/01/2005 - 07/01/2005
07/01/2005 - 08/01/2005
08/01/2005 - 09/01/2005
09/01/2005 - 10/01/2005
10/01/2005 - 11/01/2005
11/01/2005 - 12/01/2005
12/01/2005 - 01/01/2006
01/01/2006 - 02/01/2006
02/01/2006 - 03/01/2006
This is a Flickr badge showing public photos from Mihai Botea. Make you own badge here.

Add Business in Romania to My Yahoo!

Previous Posts


Business in Romania Feed Burner

Business in Romania is powered by Blogger

This website is proud to be designed by Mihai Dragan

I usually listen to THIS kind of music.