BUSINESS

EIB supports Bucharest’s metro and electricity generation in Romania

The European Investment Bank (EIB) is providing two loans in Romania amounting to almost EUR 500 M, a press release informs. EUR 465 M are to finance the design, construction and commissioning of Section II of the Bucharest Metro Line 5 to develop a new east-west underground public transport corridor in the Romanian capital. The Bucharest Metro project involves the extension of Line 5 between Universitate and Pantelimon, the construction of the Pantelimon 2 Depot, and the acquisition of 30 new trains for this line. The new Section II, which is expected to be in operation after March 2019, will increase the annual number of metro passengers by 34 million to almost 260 million. The construction of Section II will run in parallel with the building of Section I (between Drumul Taberei and Universitate), which is also being co-financed by the Bank with a loan of EUR 395 million signed in November 2009. The new metro Line 5 will help to reduce the use of private cars with positive consequences for the urban environment in terms of reduced traffic congestion and decreased traffic-related emissions and noise levels. The other EUR 33 M are for environmental improvements to Unit 4 of the Paroseni coal-fired combined heat and power plant. The Paroseni power plant project will support the deployment of a gas desulphurisation facility and a system for the collection, transport and storage of ash and slag. This will result in a significant decrease in SO2 emission pollution caused by ash and slag handling and at the same time contribute to meeting the increasing demand for electricity and heat.

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