Release date: 4 January 2006
Promoter – Financial Intermediary
S.C. METROREX S.A. (a commercial company under the control of the Romanian government)Location
Description
Development and modernisation of the underground transport system in Bucharest.
Objectives
The scheme – defined through a study carried out by an international consultant – has four main components: a) the improvement of network efficiency, with the opening of the section N. Grigorescu – Linea de centura which would increase the potential demand for transport in densely populated areas of the city; b) the modernisation of the electrical installation of the existing metro system in order to take full advantage of technical improvements; c) the provision of facilities for handicapped passengers; d) the purchase of additional metro trains.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 63 million.
Total cost (Approximate amount)
The overall cost of the investment is evaluated at EUR127 million, with Metrorex and the State budget also supporting the project.
Environmental aspects
The investments to be carried out will allow significant savings in terms of reduction of energy consumption and will help to increase the potential demand for underground transport. Metro projects are characterised by substantial environmental benefits and should also result in a reduction in greenhouse gasses when compared with the do-nothing scenario. It will therefore contribute to mitigating climate change. Globally, the project will contribute to the overall amelioration of the urban environment.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation with parallel publication of tender notices in the EU Official Journal, as and where appropriate.
Status
Signed - 20/10/2006
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).