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EBRD: Northern section of Constanta bypass, a free-flowing route for Black Sea bound tourist traffic
The northern part of the newly-built bypass around the south-eastern city of Constanta, which is part of the Pan-European Road Corridor IV, will route heavy port traffic away from the town and will provide a free-flowing route for tourist traffic from the capital Bucharest and the north of the country to the seaside resorts south of Constanta, reads an EBRD release.
'We are delighted to see the northern Constanta bypass open to traffic today, [July 19]. This new modern road built with the support of the EBRD will help relieve congestion in the Constanta area, thus reducing travel times, and will reduce pollution considerably,' said Claudia Pendred, EBRD Director for Romania.
In turn, Sue Barrett, EBRD Director for Transport, said that 'the opening of the northern Constanta bypass, which is the final section of the Bucharest-Constanta highway, will provide a direct link at its southernmost end to the port of Constanta. Improving access to the port, which is the largest port in Romania, will also have important implications for regional development in this key economic area of the country and eastern Europe.'
The northern section of Constanta's new bypass opened to traffic on Thursday, July 19. The southern part of the 22.9 kilometre traffic diversion road was completed in 2011.
The ring-road will divert heavy port traffic from outside the city and will provide fluent tourist traffic flow from Bucharest and the country north to the resorts south of Constanta, the cited release states.
The project also includes the upgrading of ten important bridges in the region of Constanta and the reconstruction of a part of the national road network damaged by the severe floods in 2005. Works on these project parts are ongoing.
The EBRD is financing this important infrastructure project with a EUR 145 million 16-year loan provided in 2005, the Bank's largest investment in Romania at that time. Part of the loan, equivalent to EUR 56 million, was extended in Romanian Lei (RON 204 million) to enable mitigation of foreign currency risk.
The project is part of a larger infrastructure modernization programme, including the modernization of the Cernavoda-Constanta section of the Bucharest-Constanta Motorway, co-financed by the European Investment Bank, the Romanian government and EU cohesion funds.
'Supporting the modernization of infrastructure in Romania remains a key priority for the EBRD. The Bank is currently working to support projects that facilitate the absorption of EU structural and cohesion funds,' reads the cited document.
The EBRD is the largest investor in Romania and has invested over EUR 5.8 billion in various sectors of the economy, including EUR 1.2 billion in infrastructure projects.