When will the first results of European infrastructure funds start to show?

The infrastructure projects funded by the European Union will not yield any noticeable results over the next two years, but if there is political interest, the absorption of European funds, which stand at 4.6 billion euros, could become the main driver for infrastructure development over the next five years, believe the participants in the “When will the first results of European funds for infrastructure show?” seminar organised by ZIARUL FINANCIAR, in partnership with Search Corporation, Rompetrol, Schoenherr si Asociatii, and Siemens.

“Next year, the non-repayable funds absorbed from the European Union will range between 350 and 500 million euros, and may be even higher if the necessary legislation is efficiently enacted,” says Ludovic Orban, Transport Minister. Romania will not be able to talk about an integrated highway system any sooner than 2011-2012. “Realistically speaking, our country can only expect work on 1,300 kilometres of highway to start in 2009, with 180 kilometres finished by 2010,” said Stefan Szobotka, communication manager of Compania Nationala de Autostrazi si Drumuri Nationale din Romania (National Company of Highways and National Roads of Romania). CNADNR has financing projects submitted to the European Union for 77 million euros, which will eventually materialise in orbital roads for 10 cities in Romania. “An infrastructure project cannot be implemented any sooner than 5 to 8 years because of the many processes involving preparations, actual works and land expropriation. One of the main problems that led to a delay in infrastructure investments was the fact that CNADNR has had nine managers in eight years,” states Valentin Stoica, executive vice-president of consultancy company Search Corporation.