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

  • Economic crisis affecting industry?
    September 14, 2015
    The recent news over the falling share prices around the world due to Chinese economic instability is of major concern for the construction sector. The knock-on effect of a downturn and economic instability in China has impacted around the world, with stock markets in Europe and the US having taken a tumble. This development should not be a surprise however. It is a situation that has been coming for some time due to the high level of spending in China and which many in the construction industry have bee
    Read More
  • Texas highway extension project
    September 4, 2023
    A major Texas highway extension project is planned.
    Read More
  • New Romanian ring road project planned
    September 24, 2014
    In Romania plans are in hand for a new ring road around the city of Satu Mare. The 19.5km ring road will reduce congestion in the city, which lies in the north of the country. The tender process has been opened by the Romanian roads authority, CNADNR, with bids being received until the 10th November 2014. Including VAT, the project will cost in the region of €184.7 million to construct and is expected to take four years to complete, with financing being delivered by the Operational Programme for Transport.
    Read More
  • Blip in road safety for Europe?
    July 11, 2023
    Is this a blip in road safety for Europe?
    Read More

Highlighted Content