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Friday, January 14, 2005
Business in Romania blog
Three contracts worth several billions of dollars (euros) signed by the former government are to be reevaluated, Romania's Prime Minister said Thursday.

Calin Popescu Tariceanu said there are questions about the financial terms of the contracts. He added, however, that the projects themselves are not in doubt.

The biggest contract to be reanalyzed is with U.S.-based Bechtel Group Inc., worth over US$2.2 billion (euro1.7 billion) to build a 415-kilometer (260-mile) highway connecting the central city of Brasov to the Hungarian border.

The European Union criticized the contract, saying there had been no bidding process and that it violated accepted EU procedures.

Other contracts that would come under scrutiny include one worth more than euro1 billion (US$1.3 billion), signed with the European Aeronautic Defence and Space Co. consortium to help Romania secure its borders and a euro480 million (US$624 million) contract with French company Vinci SA for the construction of a highway.

Posted by Iulia Rasoiu : 1/14/2005 09:24:00 am Government will reevaluate Bechtel, Vinci and EADS contracts
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