Fenechiu: Absorption rate under OP-T of 367 million euros, just days after being unblocked

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The absorption of European funds under operational programme – transport (OP-T) has reached 367 million euros just days after it was unblocked, Transport Minister Relu Fenechiu told a press conference on Wednesday.

 He added that following the unblocking of the OP-T, Romani a has recorded the biggest refund from the European Commission as about 315 million euros are to be paid into the accounts of Romania’s Treasury by the end of the week.

Moreover, 52.7 million euros are about to be approved by the European Commission and it is a matter of days before they are paid into the accounts of the Finance Ministry.

‘Romania has an absorption, just days of the OP-T being unblocked, of 367 million euros. For comparison’s sake, this process doubles the absorption rate under the OP-T. This is money going to the national budget of Romania and I believe this can contribute to the wellbeing of each of us,’ Fenechiu pointed out.

In relation to his priorities under the OP-T, Fenechiu mentioned that the most important are completing works already started and the road portions on the major transport corridors so as all the portions may be finished.

‘To me, roadway Corridor IV, railway Corridor IV, the navigable portion of the Danube and the Constanta Port are important, and then other objectives,’ said Fenechiu.

OP-T payments resumed on June 21 following the European Commission lifting the pre-suspension of the programme, the Transport Ministry reported on June 25

The European Commission, the ministry reported, decided to lift the pre-suspension after the OP-T Management Authority implemented all the measures requested under a June 2012 letter on the interruption of payments and a pre-suspension letter.

Under OP-T, current authorised payments are standing at RON 1.2 billion that are to be submitted to the Certification and Payments Authority for refunding from the European Union Budget.

The OP-T budget is 4.5 billion euros, and out of 11 beneficiary companies, the most important are the National Roads and Motorways Corporation of Romania (CNADNR) and CFR SA.

Under OP-T funds are secured for strategic Romanian projects in the areas of road, railroad and ship transportation.

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