Bucharest City Council will decide on June 26 whether to sell a 35,000 square meter (sqm) land plot in the city center, close to the Government’s building, and use the receipts for boosting the public transport activity, Ziarul Financiar reported. The municipality’s public transport company STB has been using the land as a depot for its tramways.

If it decides to sell it, the City Hall could receive about EUR 100 million, enough to buy 400 more new Otokar buses similar to those acquired last year or 55 new trams.

By selling the land, the municipality would participate to the capital increase of the Bucharest Transport Company (STB - former RATB), one of the companies set up by mayor Gabriela Firea that still have an uncertain legal status.

The idea of selling the land surfaced as the City Hall announced last week that it needed to cut this year’s expenditures by RON 600 million (EUR 125 million) compared to its initial budget. Opposition MP Nicusor Dan says the cut is insufficient since there remain RON 1.5 billion to be covered even after cutting all investments.

editor@romania-insider.com

(Photo source: Facebook/Primaria Municipiului Bucuresti)