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12 December 2014

Slovakia to tap into the European Fund for Strategic Investment

First publishedon www.WorldHighways.com
The Slovak Finance Ministry has confirmed that it has earmarked two projects for which it will apply to the EU for funds from the newly created European Fund for Strategic Investment (EFSI).

European Commission President Jean-Claude Juncker recently announced the creation of the US$26.2 billion EFSI fund as part of EC's $388 billion three-year investment plan to boost Europe's struggling economy.

The two projects for which Slovakia plans to apply for funds from EFSI are the completion of the construction of the motorway bypass D4 near Bratislava and the R7 speedway connecting south of Slovakia with Bratislava. Together the projects are estimated to cost about EUR 1bn.

Slovakia’s federal government announced earlier in the year that around $638 million (€518.5 million) will be invested in motorways in 2015, although this is around 16% lower than the government had budgeted.

World Highways reported in September that the EU Operational Programme Integrated Infrastructure will provide €80.6 million, while $17.5 million (€14.22 million) will come from the state budget.

The federal government will invest nearly $200 million (€161.65 million) in 2015 for highways construction, repairs and maintenance. This is an increase of 14.6% from the planned spending this year. Repairs and maintenance will require $55.5 million (€45.13 million), up by 12.8% from the sum for 2014.

Also in September, World Highways reported that new road links are planned to connect Slovakia and its neighbour, the Czech Republic. The Slovak Ministry of Transport stated that by 2020 two new routes are planned to link the countries. The R6 expressway will run from Puchov in Slovakia and connect the Trencin region with Zlin in the Czech Republic. Meanwhile the R5 expressway will run from Svrcinovec in Slovakia and link the country’s Zilina regions with the Morava-Sliezsko region in the Czech Republic.

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