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Tuesday, November 15, 2005
Business in Romania blog
Bucharest needs emblematic buildings, constructed in a new architectural style, to become known among foreign tourists, stated Prime Minister Calin Popescu Tariceanu at the "Investment Opportunities in Bucharest" conference.

The Prime Minister has also pointed out urban development projects, including the reconstruction of the Lia Manoliu National Stadium, the upgrade of the capital's city ring, the replacement of old subway cars and creating eight new regional hospitals.

The large investment projects in Bucharest cannot begin without first solving the capital's biggest problem, road infrastructure, stated General Mayor Adriean Videanu, at the conference. According to Videanu, more than half the total investments scheduled by the municipality (approximately six billion euros) will be allocated to infrastructure upgrade.

The City Hall currently has the necessary resources to launch the investment programs.
The contract for the Esplanada could be signed next spring, as the authorities estimate a consultant for the deal should be selected within a week, according to Laszlo Borbely, minister delegate for Public Works.

The 800 million-euro project will be signed with TriGranit, which won the public-private partnership program after a tender. The Esplanada project includes a subway station, office spaces (75,000 square meters), residences (30,000 square meters) and commercial spaces (40,000 square meters).
Within the center, the public authorities will have 30,000 square meters, while space for cultural events, sports or other activities should total another 30,000 square meters. The land on which the project will be developed is owned by the MTCT and has a surface of over 107,000 square meters. Esplanada will be located near the Unirii Square.

Posted by Iulia Rasoiu : 11/15/2005 10:42:00 am Six billion euros upgrade of Bucharest
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