Romanian transport ministry extends EUR 1.1bn to railway firm CFR for upgrades.

By bne IntelliNews February 11, 2013
Romania's transport ministry and state-controlled railway company CFR have signed a memorandum on the financing of a EUR 4.98bn (EUR 1.1bn) project for the rehabilitation of an 89.5km railway section on the European Transport Corridor IV. The project will be completed in 40 months and will bring the average speed of passenger trains to 160km/h and of freight trains to 120km/h. The whole project will benefit from EUR 740mn financing from the EU budget under the sectoral operational programme for transport. The railway section stretches between Sighisoara and Cioslariu on the Corridor IV route between the central-Romania city of Brasov and the border with Hungary at Simeria. CFR just contracted at the end of January RON 498mn works for two signalling systems, including for Sighisoara-Coslariu section, to a consortium formed by Alstom, Alcatel Lucent and their local partner Pas 97. Earlier last year, CFR signed the contracts for the railway tracks rehabilitation. The section was broken into three parts, contracted to i. Impresa Pizzarotii & C. (Italy), EUR 166mn ii. Aktor (Greece) - Arcada (Romania), EUR 168mn and iii. FCC Construccion (Spain) - Alpine Bau (Austria) - Azvi (Spain), EUR 208mn.

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