Romanian government owes EUR100 million to Bechtel

The Romanian government owes €100 million to the US-based engineering and construction company Bechtel, that completed a section of 42km stretch of Transilvania Motorway, according to the caretaker minister of transportation, Radu Berceanu.
The minister of transportation, Radu Berceanu said the Romanian government still has to pay around €100 million to the construction company for the works at section 2B of the motorway.

“All we have to do is repay the accrued debt and put in a great deal of efforts to complete this. The accrued debt is around €100 million at this point, maybe even more. We inherited a large debt due last year, and a portion of this debt may be paid in January”, said the minister of transportation, adding that every invoice issued will be paid within a month since its issuing, thus the whole debt to Bechtel will be paid by January 2010.

He added that for 2010 Transilvania Motorway project calls for a budget near 2009 level, namely €400 million.

Berceanu said that unlike a plain-stretch motorway, that costs €6million/km, Transilvania Highway incurred costs of €11million/km, excluding costs related to compensations for the loss of property.

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