Funding halted for Romanian projects

The EC is holding back financing of highway work in Romania. This move has come about following concerns over irregularities in relation to road projects in the country. The funds relate to the construction of Arad-Nadlac highway and this change is being made over a number of irregularities as well as suspicion over possible fraud. The EC approved financing for the construction of the 38.8km Arad-Nadlac highway back in September 2011. The total value of the project is €240.25 million and the project was sch
July 25, 2012 Read time: 1 min
The EC is holding back financing of highway work in Romania. This move has come about following concerns over irregularities in relation to road projects in the country. The funds relate to the construction of Arad-Nadlac highway and this change is being made over a number of irregularities as well as suspicion over possible fraud. The EC approved financing for the construction of the 38.8km Arad-Nadlac highway back in September 2011. The total value of the project is €240.25 million and the project was scheduled to be completed in 2013, but this development seems certain to add delays.

Related Content

  • Chile’s highway plans crucial for economy
    May 19, 2017
    Chile’s highway development programme is crucial to the country’s future economic growth. That is the finding of a study by the OECD. According to the report, a 27% increase in highway development is required around Chile’s around cities and ports by 2030. This is because Chile's economy relies heavily on exports. However, a possible hold-up could come from delays facing key highway projects at present. In particular, delays due to environmental assessments are holding back progress with three transport lin
    Read More
  • Colombian concession contracts cause concern
    June 13, 2014
    A report from insurance firm AIG warns that up to half of Colombia's 4G highway concessions could face financial hurdles due to over-estimated predictions of traffic flows. Colombia is at present putting out to tender its fourth generation (4G) concessions, which involve some US$25 billion in investment, reports Business News America. This investment is impressive and is Latin America's biggest move to expand and improve road infrastructure. But while many companies have shown interest and were prequalified
    Read More
  • Linking Kenya and Uganda with a new road project
    May 10, 2018
    An upgraded road link will improve transport between Uganda and Kenya - Shem Oirere reports Rainfall patterns and type of soil in an agricultural rich area shared by the neighbouring East African countries of Kenya and Uganda was a key consideration in arriving at the decision to upgrade to bitumen standards 73km of the 118km Kapchorwa-Kitale road that links the two countries. Initially, Uganda had proposed to have the road between Kapchorwa and Suam on its border with Kenya re-gravelled and widened to a
    Read More
  • Norway’s Nye Veier will tender 23km of motorway
    May 7, 2019
    Norwegian state-owned road developer Nye Veier has announced the tendering of a 23km four-lane motorway between Roterud and Storhove along Lake Mjøsa. Mjøsa, Norway's largest lake as well as one of the deepest in all Europe is located in the southern part of the country and about 100km north of the capital Oslo. It is around 117km long and at its widest is 15km. More than 4km of the €388 million project will be a tunnel. Construction is scheduled to begin in 2021. The stretch of road is as part of
    Read More

Highlighted Content