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.

(Photo: Pixabay)

andrei@romania-insider.com