The European Commission (EC) approved on Tuesday a financial contribution of EUR 170 million grant funds for major changes in “Bucharest subway line 5 line 5 project, Raul Doamnei – Eroilor (PS Opera) section, including Valea Ialomitei,” a press release informs.
The decision aims at staggering the project into two phases, the first being included in the 2007-2013 programming period, and the second is going to be financed in the 2014-2020 programming period, EC says. This splitting was carried out in two phases so the project to further be financed from European funds, the Commission representatives explained.
Following EC decision, the first phase of the project has an eligible amount of nearly EUR 200 million, of which almost EUR 170 million are co-financing from the European Union through the European Regional Development Fund (ERDF). The total project value is over EUR 480 million.
“Line 5 subway construction is a project of great importance for the inhabitants of Bucharest as it will reduce travel time between Drumul Taberei district and Eroilor area by almost 20 minutes. It’s estimated that more than half of the 335,000 residents of Dumul Taberei and adjacent areas will use the upcoming subway line. However, it’s expected this line to lead to traffic’s decongest in the west area of the capital,” EU Commissioner for Regional Policy Corina Crețu stated.
The line being extended, Metro Line 5, has a length of 6.7 km, and includes 10 metro stations as well as a depot at its western end. Each train will have six cars and are expected to travel at speeds of up to 80 km/h.
Metro line 5 represents the fifth metro corridor in Bucharest, and is increasing the total length of the network from 69 km to about 76 km.
The project is creating an estimated 48 jobs during the implementation process, and 1 200 new jobs upon completion.