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Chinese investors eyeing Siret-Baragan Canal
Representatives of the Ministry of Agriculture and Rural Development (MADR) discussed with Chinese investors the construction of the Siret-Baragan Canal (that runs across several eastern and southern counties), with the businesspeople voicing particular interest in the amortization procedure, should they decide to put their money into this project.
'Last week we had a meeting with the Chinese delegation, who have a penchant for such investments. The most important element they inquired about was the investment amortization method. Three ministries are involved in the Siret-Baragan Canal project, specifically the Ministry of Transport, the Ministry of Environment and the Ministry of Agriculture. We already have some data available which we will table to the investor regardless of whether he is from Asia or Europe, and I believe that we will be able to find the best solutions,' said Secretary of State with the Ministry of Agriculture Daniel Botanoiu.
He mentioned that an incipient project for the Canal already exists and that financing could come not only from private investments, but from structural funds too.
'We have an incipient project for the Siret-Baragan Canal for the irrigation infrastructure through either gravity or by pumping, that could be financed not only private investments, but from structural funds too,' said Botanoiu.
In the past years MADR has received offers from Spain, Canada and Germany for the accomplishment of this objective.
According to MADR data, the accomplishment of the Siret-Baragan Canal would allow the irrigation of 500,000 hectares of the Romanian Plain with 40-60% energy savings, because water transport through the irrigation systems will be mainly gravitational and less by pumping. The canal is a large-scale investment estimated at about 3.4 billion euros for 190 kilometers, according to assessments made far back in 2003 and which also include the irrigation systems. The construction of the Canal alone implies costs of about 802 million euros, to which add another 2.8 billion euros for the irrigation systems.