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CNADNR to contract loan worth 180m euros from commercial banks, says transport minister

22 iulie 2009

Information in English

National Motorway and Road Company of Romania (CNDAR) will contract in the upcoming period a loan worth 180 million euros from commercial banks in order to refinance another loan for the maintenance activity, said the transport minister Radu Berceanu in a news conference.

The company will guarantee the loan with own revenues. Berceanu said that CNDAR has to cover an older loan, but the biggest part of the loan will be used for the maintenance activity.

‘Although we had important sums, about 400 million lei for maintenance in 2009, we had to pay nearly 250 million lei since last year. They were unpaid debts representing the maintenance activity from autumn, winter and spring of 2008.

After having paid the debts we’ve remained with very small amounts that are scant even for the summer maintenance works such as road markings, ‘ said Bercenau.

Berceanu said that CNDAR has to be prepared for the winter maintenance which starts in October- November.
CNADNR has predicted in the 2009 budget of revenues and spending a net profit worth 136. 564 million lei (some 32.13 million euros).

CNADNR revenues and sources total 7.685 billion lei (some 1.808 billion euros), of which 1.336 billion lei overall revenues, 4.571 billion lei sources from state budget and 1.784 billion lei from other sources.

Expenditures were established at 1.199 billion lei, of which 217.625 million lei expenditures for personnel.
CNADNR has scheduled investments worth 5.962 billion lei.

National motorway and road company of Romania is a company with strategic national interest which is running under the authority of the Ministry of Transport and Infrastructure based on economic management and financial autonomy.

National motorway and road company of Romania ensures the implementation of programmes of unitary development of the public road network in line with the ministry’s strategy, the National Territory Development Plan and with the national economy’s requirements.

CNADNR’s main objectives for the upcoming period are the development of motorway network, construction of express road network, beltways and alternative roads in big cities.

 

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