Romania needs 12.8 billion Euros (nearly 17 billion Dollars) in the next 7 years to build some 1,800 kilometers of motorway, Transport Minister Radu Berceanu announced.
”Roughly 10.7 billion Euros of the required 12.8 billion should come from the state budget, but since the state doesn’t have the possibility to give 1.6 billion euros a year for transportation only, we shall try to find alternative financing sources,“ Berceanu said.According to the ministry’s calculations, the motorways will be financed with 1.5 billion Euros from the European Union (12% of the total amount), 600 million Euros from the international financial institutions (5 percent), 6.5 billion Euros from the budget (51 percent) and 4.2 billion euros from the motorway concessions (31 percent).
The Romanian state will seek to access loans with long grace periods, of 6 to 7 years, to be repaid in 15-20 years, the minister explained. “A budget allotment worth 500 million Euros a year is more realistic during 2007-2013,” he added.
If the Ministry will be able to find the money needed to stick to its plans, by the end of this year Romania will have 298 km of motorways, and by the end of next year - 420 km. In 2013 there should be 1,874 km of modern roads, of which 1,798 km built during the next 7 years.
