OREANDA-NEWS. June 16, 2015. The European Investment Bank (EIB) is lending EUR 145 million to motorway company Dru?ba za avtoceste v Republiki Sloveniji d.d. (DARS) to finance the construction of a new 13 km long motorway section between Dra?enci and Gru?kovje (Eastern Slovenia) and investments designed to increase road safety on several motorway sections across the whole country. EIB funds will also support investments to improve transport security by upgrading the motorway’s electro-mechanical equipment, introducing intelligent transport systems and control centres.

The EIB funds will finance some 48% of the total project cost of EUR 303.4 million. The remainder will be provided by Slovenian national resources and EU cohesion funds. It is envisaged that the project will be implemented within the period from 2015 to mid-2018.

EIB Vice-President L?szl? Baranyay commented: “EIB funds will contribute to upgrading the motorway network in Slovenia, which represents a strategic transport sector in the country. By removing bottlenecks the project will make motorway transport more fluid, help to meet the increased current and future capacity demands and enhance transport safety. ”

Matja? Knez emphasised that “the mission of DARS is to ensure good traffic flow and safety on the motorway system. On the one hand, this means that the existing system must be continuously rebuilt, professionally and effectively. On the other, this also entails the establishment of missing connections and removal of bottlenecks, which are the foundations of a modern and effective infrastructure.” After the financial consolidation phase, DARS has started a new, investment cycle. DARS covers its financial obligations from its own resources, not putting any strain on the country’s budget.

Taking out loans with the EIB is important for DARS not only because of the good financial terms, but also from the point of view of the maturity of the resources, which match the investment in the infrastructure (long-term investments with long-term resources).

This loan is a continuation of the well-developed cooperation between the EIB and the Slovenian motorway company DARS. Including the current loan the EIB has granted nine loans to DARS to finance extensions and rehabilitations of various sections of the Slovenian motorway grid.