Romania to modernise Arad-Timisoara-Caransebes railway for EUR 1.8 bln
Romania's Ministry of Transport, Infrastructure and Communications wants to invest RON 8.78 billion, or EUR 1.8 bln (including VAT) for the modernization of the Caransebes - Timisoara - Arad railway.
The ministry has drafted a decision for approving the technical-economic indicators of this investment objective, which has been declared a public utility work of national interest, News.ro reported.
The railway's length is 162 km. The modernization will consist of doubling the line (except for a portion that is already doubled) and increasing the maximum speed to 120 km/h for freight trains and 160 km/h for passenger trains.
The duration of this investment is three years.
The financing should come from non-reimbursable external funds (EU funds), from the national budget through the Transport Ministry, and from the National Railway Company CFR's revenues.