BUSINESS

European fund absorption reaches almost 60 pc in transport sector

The Transport Ministry, through the Management Authority for the Transport Operational Program, is closing this year with a rate of absorption of European funds of 58.55 per cent, the sum absorbed in 2014 totaling EUR 1.128 bln, more than EUR 100 M over the EUR 1.022 bln target.

The program had earmarked for Romania EUR 4.8 bln for the 2007-2013 period. The absorption rate stood at 10.7 per cent in 2012 and 32.24 per cent in 2013.

“The year 2014 has been dedicated to developing a portfolio of major infrastructure projects, among them the M2 (Pipera – Berceni) and M4 (Gara de Nord – Straulesti) subway lines, the purchase of 27 subway trains, the Campia Turzii – Ogra – Targu Mures and Sebes – Turda highways, and the Radna – Gurasada – Simeria railway line,” a Transport Ministry communiqué shows.

The absorption rate was improved this year after the Management Authority filed at the European Commission the financing bids for three retrospective infrastructure projects (the Arad-Deva highway, the Cernavoda-Constanta highway and the Constanta beltway).

The process of phasing major infrastructure projects was also started this year, a part of them being sent to the European Commission for approval. Thus, the Lugoj-Deva and Sebes-Turda highway sections, the Radna-Gurasada-Simeria railway line and the M2 subway line were phased.

Phasing represents a process through which projects that are being implemented and that cannot be completed by 31 December 2015 (the end of the 2007-2013 programming period) will be carried over into the next programming period. Thus, the measure entails finishing in the first phase, by 31 December 2016, a part of the project (such as excavations, major structures, shape layer, stabilizing layer), with the investment set to be completed in the second phase.

“The Transport Ministry will earmark 2015 for the implementation of infrastructure projects but also for the absorption of EUR 1.88 bln allocated by the European Commission,” the communiqué adds.

 

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