CFR signs financing contracts of 700 million Euros with EC

The National Railway Company (CFR) signed a financing contract with the European Commission (INEA- Innovation and Networks Executive Agency) for four railway projects of 686 million Euro, as part of Connecting Europe Facility (CEF) Programme, CFR informs in a press release. National co-financing of 15 per cent will be made from the state budget.

2016-01-07 14:45:09

The most important project approved and financed 85 per cent by the European Commission is modernizing the railway connection between Brasov and Sighisoara, Brasov-Apata section and Cata-Sighisoara, worth 677,739,059 Euro. The main target of the project is to promote sustainable mobility along the Rhine-Danube Corridor, by increasing train speed, reducing travel time for passenger and goods trains , increasing traffic safety by introducing modern traffic management and signalling systems and last but not least, environment protection according to new EU interoperability standards and regulations.

Another project with eligible budget of 1,073,945 euros is about improving institutional capacity and project implementation within CFR, in order to ensure higher quality, efficiency and transparency in managing EU funds to prepare in time implementation of railway infrastructure in Romania, related to TEN-T network eligible for financing through financial instruments offered by EC to member states over 2014- 2020.

According to the CFR press release, the updated feasibility study for rehabilitation of Craiova- Calafat railway is the third project financed by grant of 1,476,345.45 euros (85% FEN). The aim of the project is to update documents according to Technical Standards of Interoperability, taking into account provisions of demands for passenger and goods traffic at national and international levels, as well as launching tender procedures for works design and execution.

The last project with approved financing refers to the feasibility study to rehabilitate Craiova-Drobeta Turnu Severin-Caransebes railway, to benefit from grant of 8,432,425 euros (85% FEN). The aim of the project is to draw up documents for the feasibility study with standards imposed by European corridors and the immediate launch of tender procedures for the design and execution of works on that section.