The Government on Thursday approved, through a draft law, the financing agreement for the Caransebes - Arad Railway Line, co-financing related to the Recovery and Resilience Plan between Romania and the European Investment Bank, worth 300 million euros.
According to a press release of the Executive, the project is estimated to be completed in 2029, and the deadline for disbursing the loan is 72 months from the date of signing the financing agreement.
"The estimated value of the project is 1.758 billion euros (including VAT and land acquisition), the allocation from the PNRR (National Recovery and Resilience Plan) being approximately 1.1 billion euros. The difference, up to the total value, is to be covered from the state budget, through the budget of the Ministry of Transport and Infrastructure, from the own revenues of the National Railway Company CFR SA, as well as from other legally established sources. The loan worth 300 million euros will support the Romanian authorities in covering this contribution, by financing the state budget deficit created during the implementation of the project," the press release states.
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