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

  • Romanian road tenders underway
    October 5, 2022
    Romanian road tender processes are now being carried out.
    Read More
  • India pushing ahead with infrastructure projects
    July 4, 2012
    Despite the economic downturn, India looks to be pressing ahead with its major infrastructure projects to further boost its incredible growth. Patrick Smith reports India, which like most countries has been affected by the current economic climate, although not to the same extent, is pressing ahead with its ambitious highway construction plans. Each week new projects are completed, started or awarded as the nation seeks to improve its transportation requirements. These are needed to meet the aspirations of
    Read More
  • Ring road upgrade for Bucharest
    May 4, 2012
    Plans are in hand in Romania for the upgrades to the Bucharest ring road. This work is due to be completed by 2014, according to the country’s Transport Ministry. Reconstruction and modernisation of the Chitila-Voluntari segment of the ring road was completed in 2010 and the modernisation of another two segments were completed in 2011. Also, the upgrading of two further segments will be finished by mid 2013. The investment in the five segments of the ring road is expected to reach €100.17 mill
    Read More
  • Demand diversity in the construction equipment sector
    June 1, 2015
    Demand within the global construction equipment manufacturing industry is anything but homogenous, with certain countries and sales regions significantly outperforming others, with a whole host of factors fuelling and suppressing each key market - Guy Woodford reports
    Read More

Highlighted Content