The European Commission has announced on Thursday that it had Okayed a EUR 875.5 million investment from the Cohesion Fund for the construction of the first phase of the Sibiu-Piteşti highway, reads an EC press release.
The European Executive says that it will be the first highway to cross the Carpathian Mountains, enabling a better connection in Romania along the Rhine-Danube corridor, from the port of Constanța on the Black Sea to Nădlac, on the border with Hungary.
“This project will solve a major blockage in the Romanian transport network. It will increase road safety, shorten travel time and reduce costs for passengers and freight. It will have a very positive impact on the economy and on the quality of life of the local population“, said the Cohesion and Reform Commissioner Elisa Ferreira,
The project, expected to be operational by 2026, has a length of 122.11 km, and is divided into five sections that cross three counties: Sibiu, Vâlcea and Argeş.
In stage 1, for which funding is requested, 53.58 kilometers of highway will be built, including 6 road junctions, 28 bridges and passages, 10 viaducts, a tunnel, a short-term parking lot, two service spaces, three maintenance and coordination centres.
The motorway is expected to save time for vehicles ans trucks, namely 57 minutes / car and 54 minutes / heavy vehicle.
The total cost of the motorway is around 1.3 billion euros, which will be finances by the Large Infrastructure Operational Program 2014-2020: 85% of the total eligible value will be provided from the Cohesion Fund, and the rest from the state budget.
The implementation period of the Project is 103 months, has started in June 2015 and is expected to be concluded on December 2023.