EIB funding of 300 mln euros for Drumul Taberei-Universitate subway segment

Minister of Transport and Infrastructure Radu Berceanu announced on Thursday that the European Investment Bank (EIB) accepted to open a financing line of 300 million euros for Drumul Taberei – Universitate subway segment construction.

„Following talks with EIB president and vice-president, the bank accepted to finance with 300 million euros Drumul Taberei – Universitate subway segment construction, in fact an older, two-year loan, but Romania failed to provide an answer to EIB acceptance to finance this segment and the deadline for such an answer was set on Nov. 22”, the Minister of Transport also said.

He stressed that the bank representatives said they were ready to increase this amount to 500, or even 700 million euros, on condition the Romanian side has the capacity to spend the amounts.
According to the Ministry of Transport officials, the companies submitting offers must come up with proof of a considerable turnover and experience in running such projects.

At present, the subway network in Bucharest is in total length of 67 km., structured on four main lines, 49 stations and three train sheds. The subway transport in Bucharest will celebrate 30 years of existence in November 2009, the first subway stations being inaugurated on Nov. 16, 1979.

Following the increase in the number of Bucharest inhabitants and difficulties met by the ground transport in the period 1972 through 1975 the preliminary studies for the construction of a subway network were carried out, the first used segment, in 1979, being Semanatoarea – Timpuri Noi, more than 8 km. long.

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