Authorities to borrow money from Chinese bank to repair two road sections

Print Send by email
10:00, 17 Feb 2018

Authorities to borrow money from Chinese bank to repair two road sections

The road sections Criva – Balti (national road M5), with a length of 133 km, and Balti – Floresti – Gura Camencii (national road R13), with a length of 40 km, will be repaired. The authorities plan to raise a loan from the largest Chinese bank, the ICBC (Industrial and Construction Bank of China). The cost of works will be assessed as a result of negotiations.

In a response to an inquiry made by IPN News Agency, the Ministry of Economy and Infrastructure said that Minister Kirill Gaburici recently signed a memorandum of intent on road rehabilitation with a delegation of the Chinese company China Hyway Group Limited. The company will facilitate the raising of the loan from the ICBC and will perform the road rehabilitation works when the negotiations on technical (contract conditions and cost of works) and financial aspects (conditions of lending from the ICBC) are completed.

The signed memorandum is a framework agreement that specifies the sides’ intention to rehabilitate and build 330 km of national roads in four stages. Each stage will be negotiated separately, when the necessary documents (feasibility studies, technical project, environmental studies, etc.) are worked out. The road sections selected for the first stage have the required technical documentation, while the feasibility studies need to be updated.

The period planned for finishing the works at the first stage is of 36 months, plus another 12 months, which is the period for notifying defects. The launch of works depends on the completion of the technical and financial negotiations.

The network of nations roads consists of 5 900 km of express, national and regional roads. Some 205 km of road were rehabilitated, while 400 km of road are under rehabilitation.

10:00, 17 Feb 2018
Official exchange rate for date 19.02.2018
[T] Currency Code ABR Rate Exchange Rate Albanian lek 008 ALL 10 1.5729 Armenian Dram 051 AMD 10 0.3470 Australian Dollar 036 AUD 1 13.2912 Azerbaijanian Manat 944 AZN 1…
05:00, 19 Feb 2018

Other news

14 February 2018
RSS
Talks to extend repayment period of loan provided by EIB
16 February 2018
Official exchange rate for date 16.02.2018
free
12 December 2016
Kazakhstan obliged to pay half a billion US dollars to Ascom group
28 March 2016
About 2.5m lei collected into state budget as road taxes last week
15 February 2018
Transnistrian SMEs will be allowed to suspend work for three years
14 February 2018
Number of bank card holders on the rise
free
New head of EBRD office in Chisinau introduced to authorities
free
26 March 2016
More time allotted for implementing regional development projects
10 December 2016
Russia ready to resume import of fruit and vegetables from Moldova
free
26 March 2016
National Committee for Financial Stability will be reformed
free
15 February 2018
EBRD’s message is a positive signal for business sector, opinion
free
Official exchange rate for date 15.02.2018
free
13 February 2018
Energy experts request national energy regulator to publish calculations for gas tariffs
free
26 March 2016
Official exchange rate for date 26.03.2016
free
09 December 2016
2017 state budget adopted in first reading
free
14 February 2018
Official exchange rate for date 14.02.2018
free
25 March 2016
National Program of Economic Development by Reindustrialization proposed for debates
10 December 2016
Official exchange rate for date 10.12.2016
free
25 March 2016
€5 million for purchasing engines
13 February 2018
Official exchange rate for date 13.02.2018
free

ANNOUNCEMENTS

See all

PRESS-RELEASE

News Agency IPN

Public Discussion: Administrative and political interference in capital city

News Agency IPN

Public Discussion: Anti-propaganda law: necessity, advantages and risks

News Agency IPN

Public Discussion: Chances of fulfilling the 28 conditions for obtaining €100 million from the EU or How real is the government’s objective to make the European course irreversible until the parliamentary elections?

See all

Last videos

Conferințe IPN [HD] |Chișinăul de seară, orașul luminilor, rezultatul concursuluiConferințe IPN [HD] | PUN își consolidează rândurile
Conferințe IPN [HD] | Un grup de experți în energetică, adresare către ANREConferințe IPN [HD] | Licitații cu probleme la achiziția alimentelor în școli
See all
banner ceu
banner creditex