The European Commission (EC) will probably endorse the financing for part of Bucharest’s new subway line to the airport - M6, European Commissioner for regional development Corina Cretu confirmed.

The EU will finance the section stretching from the central railway station to the Baneasa commercial area but will not finance the segment from Baneasa to the airport.

The EC has spotted a series of irregularities in the project Romania sent for the second section. Cretu said that the Commission sees it as not sustainable if built underground and proposed the segment to be built above ground, local Agerpres reported.

The second section will be partly financed by a loan contracted from the Japan International Cooperation Agency. The whole project is estimated to cost RON 6.35 billion (EUR 1.37 billion, VAT included), out of which RON 2.78 billion (EUR 600 million) is the value of the section financed by the EU. Romania still has to contribute 15% of this value after the co-financing was increased from 75% to 85%.

When sending the project to Brussels in late December, transport minister Felix Stroe assured that the works will be completed by 2020, a deadline that looks totally unrealistic.

EC will finance only half of Bucharest’s subway line to the airport

Railways company CFR earmarks EUR 107 mln for Bucharest central station – airport railway link

editor@romania-insider.com

(photo source: Facebook / Metrorex)