Romania To Borrow EUR370M From EIB For Subway Line

Romania's Government on Wednesday authorized the Finance Ministry to contract a EUR370 million loan from the European Investment Bank for the construction of Drumul Taberei-Universitate subway line in capital Bucharest, acting Prime Minister Emil Boc said late Wednesday.

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The project is scheduled to be completed in 2015, Boc told private television B1 TV.

The subway line is estimated to cost approximately EUR900 million, financed from foreign loans and budget funds. It is projected to have 9.05 kilometers and 14 stations.

Transport Minister Radu Berceanu said back in July that the rest of the foreign loan for the line Drumul Taberei-Universitate should come from the EIB.

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