Govt to invest 5 billion euros in infrastructure projects in 2008

The Romanian Government will invest close to 5 billion euros in the country’s infrastructure in 2008, Minister of Economy and Finance Varujan Vosganian told a seminar on September 30 on construction and real estate.
“We are expecting Romania to draw investment funds worth 250 billion euros in 2009-2013, which will generate an economic growth rate of 6-8%, compared with an EU average of 1.6%. A growth of over 30% will continue in the construction sector in 2008.
The investment component for 2009-2013 indicates that 40 billion euros are expected from foreign investment, 60 billion euros form the Budget, 20 billion euros from investment in the energy sector and 120 billion euros from investment by Romanian companies running on Romanian capital. In 2008, up to 2 billion euros will be invested in the energy system managed by the Ministry of Economy and Finance (MEF),” said Vosganian.
According to data with the MEF, Romania absorbed European grants worth 5 billion euros in 2007-2008, recording a net balance of more than 2.5 billion euros. In 2009-2013, 100 billion euros’ worth of European grants will be drawn in for infrastructure project, 30 billion euros of which will be invested in ongoing projects and 70 billion euros in complex infrastructure projects.
All infrastructure projects financed through ISPA, finalized until end-2010 Minister of Transport Ludovic Orban said on September 30 that all the infrastructure projects that benefit from financial support through the ISPA Programme of the EU would be finalized by end- 2010.
“All these projects will be finalized until 2010, including here the infrastructure on the Romanian bank of the Danube Bridge Calafat –Vidin,” said Orban in a seminar on infrastructure matters.
The minister said the ISPA programme finances projects such as the ring roads of Deva, Simeria, Orastie and Caransebes towns (west), the infrastructure of the Calafat-Vidin Bridge and ensuring navigation conditions of minimum 2.5 meters on the Romanian bank of Danube River between Braila (east) and Calarasi (south).
According to the minister of transport, Romania will absorb European funds of 350-500 million euro for the development of road infrastructure in 2009. All the execution contracts for the motorways projects will be signed by 1 July 2009.

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