OREANDA-NEWS. January 24, 2013. This was stated at a press conference held in the Ministry of Transport and Road Infrastructure of Moldova by Gianluigi Savaroni, a representative of the company. According to Transport and Road Infrastructure Deputy Minister Boris Gherasim, on May, 3 Toto Costruzioni Association with Taddei Spa have signed two contracts on rehabilitation of the M2 Chisinau -Soroca road.

The contract for rehabilitation of the 28.3 kilometre long segment values 12. 4 million euros, the contract for rehabilitation of the 15.3 kilometre long segment values 4.4. million euros. In line with the contracts, the first and the second segment must have been put into service on December, 15, 2012 and on November, 1, 2012 respectively.

Up to date, the works have been 60% an 99% completed. According to Boris Gherasim, fines have been applied to Toto Costruzioni Generali in Association with Taddei Spa Boris Gherasim confirmed that due to the delays the Ministry had transferred 53% of the sum stipulated by the first contract and close to 64% of the sum provided for by the second one. In his turn, Jeanluigi Savaroni informed that the delays in putting into services the two segments are explained by the fact that the road condition has worsened since the feasibility report was drawn up, as well as by the too tight schedule to fulfill serious works and impossibility of working with certain building materials in the cold spell.

According to him, the company is ready to meet its obligations and complete the works by June, 2013 - the deadline, provided for by the contract, or, in other words, within 200 days since the expiration of the deadline for putting the segment into service. According to Boris Gherasim, if the works are not completed by June, 2013, the Ministry will terminate the contracts and announce a new tender to select a new contractor.

He pointed out that the budget of all the works can not outstrip the funds provided for by EBRD and EIB. Boris Gherasim offered apologies to participants of the road traffic for inconveniences caused by the protracted works and specified that in line with international norms the contractor is bearing responsibility for the road safety on the segment for the duration of the contract.

According to Boris Gherasim, this will be a good lesson, teaching all contractors, including foreign companies, that commitments must be met in Moldova.