Poland secures funding for €680m expressway project
The European Investment Bank (EIB) has agreed to lend €270m (£225m) towards the €680m (£567m) upgrading of a section of the S7 highway between Koszwały and Kazimierzowo in northern Poland.
The loan will finance the upgrading a 40km stretch to a dual two-lane expressway, partially following the existing road and partially along a new route in the areas of Pomorskie and Warmińsko-Mazurskie. The project covers four interchanges and more than seventy engineering structures including two bridges over the Vistula River.
The EIB money will finance up to 40% of the project costs, with the remainder coming from EU Cohesion Fund grants and budgetary contributions from the republic of Poland.
Vazil Hudák, EIB vice-president in charge of operations in Poland, said: “The project will help unblock a major traffic bottleneck both for long-distance traffic and between the Gdańsk and Elbląg urban areas; improve the quality of life of citizens through increased transport safety; and have a positive impact on the environment due to a decrease in pollution. The EIB loan will be instrumental in this.”
The project promoter and the final beneficiary of the EIB loan is the General Directorate for National Roads and Motorways (GDDKiA), which is responsible for the construction, maintenance and and operation of the national road network throughout Poland.
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This article was published on 18 Nov 2016 (last updated on 18 Nov 2016).