The Romanian government would like to make public the controversial contract signed in 2004 with US company Bechtel for the construction of the Brasov-Bors [Transilvania] motorway, but it is unable to find the document, the minister of large infrastructure projects, Dan Sova, announced last week.
It was one of the latest contracts signed in 2004 by the leftist cabinet of PM Adrian Nastase. Leftists came again at rule last year and have cancelled the contract after the project has lingered amid ambiguous clauses in the contract and scarce public financing.
Under the contract, Romania has paid EUR 1.4bn for the construction of 52km. Initially, the 415-km motorway was supposed to cost some EUR 2.4bn.
It remains highly unclear how was the government able to cancel the contract a couple of months earlier without having the original draft of the contract, the daily comments. It is even more unclear how has the government lost a classified document that was supposed to be under the protection of the intelligence agencies. The daily also highlights inconsistencies in the government statements over the past weeks in regard to this contract.
Related Articles
EC clears €200mn capital increase at Romanian state-owned CEC Bank
The European Commission has approved Romania’s planned €200mn capital increase for state-owned CEC Bank, allowing the country to proceed with strengthening the lender’s financial position, ... more
Austrian bank Addiko to enter Romanian market with consumer loans first
Addiko Bank, an Austrian financial institution specialising in the consumer and SME sector operating in Central and South-Eastern Europe (CSE), is preparing to launch operations in Romania with the ... more
Moldova’s MAIB announces stronger profit and plans to expand in Romania
Moldova’s Maib bank, which plans to list its shares on the Bucharest Exchange (BVB), has reported an excellent third quarter, with net profit rising by 11% year on year to MDL1.1bn ... more