about us | newsletter | contact | archive | members area
Andreea Paun, Griffes
In 2018, we will be delivering Unirii View»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Pioneering motorway concession deal collapses

The two billion Euro contract for the construction of the 55 kilometre mountain motorway between Comarnic and Brasov has collapsed at the request of French-Greek constructor Vinci-Aktor consortium

May 2010 - From the Print Edition

The consortium failed to obtain financing for the project, due to a breakdown in communication between the two firms and the Romanian Government.
Analysts argue the failure of Romania’s largest public-project partnership, signed last year, is a big step backward in the country’s development of its infrastructure.
Because this pioneering concession project has fallen apart, infrastructure firms may require tighter assurances from the Romanian Government before signing such large deals in the future, which is likely to drive up the cost of motorway construction in Romania.
Vinci-Aktor signed the 2009 deal to build and operate the Comarnic-Brasov motorway for 30 years.
“The contract had to be terminated because the contractual terms were not accepted by the Romanian state,” the Greek firm stated in a bourse filing. “As a result neither the project’s funding nor the implementation of the concession agreement was feasible.”
Analysts predict it will take another year to organise a new tender and choose a winner. But there is widespread scepticism about the project in the short-term, because this is the third time a deal for the Comarnic-Brasov motorway has collapsed.
Vinci-Aktor had started discussions with EU’s investment arm, the European Investment Bank (EIB) to fund the project – but these did not move forward.
However in March the EIB’s vice president Matthias Kollatz-Ahnen told The Diplomat that the EIB had “no limits” for lending to Romania this year. Erste Group’s head of infrastructure & public sector division Werner Weihs-Raabl also told The Diplomat that the bank is highly interested in investing over one billion Euro in Romania’s concession-based projects targeting road infrastructure.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  10012 Views
Daily Info
David Jordan named new CEO of Policolor-Orgachim group

The board of the Policolor-Orgachim group has announced changes in its top management structure: David Jordan has been named the new CEO of the Group.

Vienna Insurance Group posts growing profit in Q1 2018

Vienna Insurance Group (VIG) reports further improvement in all key figures for the 1st quarter of 2018 compared to the same period in the previous year.

E-Distributie Muntenia to modernise several electricity networks in Bucharest

E-Distributie Muntenia will invest about 6.1 million Euro this year for the modernization of the medium and low voltage grids in Eminescu, Floreasca and Domenii areas in Bucha...

Ford confirms second vehicle for Craiova assembly plant in Romania, 200 million Euro new investment and 1,500 new jobs

Ford confirmed today it is investing up to 200 million Euro and adding an additional 1,500 jobs to manufacture a second vehicle at its Craiova Assembly Plant, in Romania.

Romatsa buys insurance policy for 8.4 million Euro

Romatsa, the state company that manages the air traffic control activity in Romania, has purchased insurance policies worth 39 million RON (8.4 million Euro) for its employees...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.

2 Comments

TransferGo: We will come to a point where money transfers will be dominated by app usage

Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.

Globalworth: The number of green accredited buildings continues to grow every year

Romania today is one of the few economies in Europe that had a consistent expansion over the past six years, outpacing EU average growth, Dimitris Raptis, deputy CEO and Ch...

1 Comment

UniCredit announces updates in the Mobile Banking application

UniCredit Bank launches new facilities in the up-to-date version of its Mobile Banking application to provide customers with a simpler and faster user experience.

2 Comments

ESOP: We expect that the green building trend further grows

The Romanian market is one of the most dynamic in the region due to the accelerated development in IT&C, BPO, shared services industries, and to the expansion of research &...

Immofinanz: Constant, visible shift towards energy efficiency on the local office sector

Romania's strong economic growth in 2017 placed the country in a leading position in the CEE region and the trend is expected be sustainable over the next years, Christian ...

1 Comment

Crosspoint: Currently, there is a relatively small number of green office buildings throughout Romania

2017 has been a good year for the office market all throughout the CEE region: low vacancy rates (Bucharest - nine per cent, Warsaw - 14 per cent, Budapest - 9.2 per cent, ...