5bn-euro investments lost because of delays in highway construction

At least 5bn euros is the value of investments that would have been attracted by the highways scheduled to be finalised until now had deadlines for Bucharest-Ploiesti (62 km), Cernavoda-Constanta (51 km), Campia Turzii-Gilau (52 km), Bucharest's northern orbital road (26 km) or Timisoara-Arad (32 km) sections had been met. Had these projects been finished, Romania would have now had 500 km of highway.

Romania has had just 281 km of highway since 2007, A1 Bucharest-Pitesti and A2 Bucharest-Cernavoda, with the latest section delivered being Pitesti orbital road (15 km). A1 highway alone has in recent years attracted investments worth above 1bn euros in shopping centres, logistic space, filling stations, warehouses or production facilities, says Business Construct magazine in its latest issue that came out last week together with Ziarul Financiar.

The same would have probably happened with A2 Bucharest-Constanta highway had it been finalised.

The lack of a road infrastructure and of industrial parks has kept major investment projects away from Romania. "Investments in this field will be an advantage Romania has been awaiting for many years in order to attract major projects in other regions of the country as well, which lack foreign direct investments. At the same time, the development of infrastructure projects means inflows of capital, technology and know-how (...)," maintains Sorin Vasilescu, director with the National Agency for Foreign Investments (ARIS).

The two finished highways have attracted, in the past year alone, investments of above 290m euros in Romania. "The Bucharest end of the highway to Pitesti concentrates around 80% of the entire volume of modern logistic space of the capital, put at 920,000 square metres. In figures, this probably means around 400m euros invested in buildings and infrastructure alone, not including the money invested by each tenant. Besides these projects, we must also take into account the direct investments operated by companies in the area," says Viorel Opait, senior industrial consultant with Colliers International.

Logistic projects have been developed on both sides of the highway to km 23, being the most active area in the country. On the Bucharest-Constanta highway, attracted investments are much lower, of below 100m euros.