SC RAJA SA and the EBRD signed a co-financing of 200 million euros

Tuesday, November 30, 2010, SC RAJA SA Constanta in the presence of the local and district county authorities, signed the loan agreement with the European Bank for Reconstruction and Development. Through this agreement the regional operator in the field of water supply will receive financing for the project "Rehabilitation and modernization of water supply and sewerage systems in the region Constanta - Ialomita".

The loan of 200 million euros, representing co-financing for SC RAJA SA, was given after three months of talks between the two parties and the conditions are some of the best. The project is particularly important, as it is unique in Romania by its size and extent and the beneficiaries are numerous administrative units in the two counties.

Basically, after this contract will be implemented, several localities in Constanta and Ialomita counties will have 301 more kilometers of sewerage system, another 24 kilometers will be rehabilitated, 20 urban agglomerations will be equipped with collection and cleaning system for the wastewater, discharge pipes will extend 54 kilometers, 40 wastewater pumping stations are going to be build and seven others rehabilitated, plus many other extremely important investment for each locality. Following implementation of the project, over 6,000 households will be connected to the water supply system.

"The program extends until 2015"

The event gathered the most important figures of the political life in the district: Mayor Radu Mazare and the two deputies - Gabi Stan and Decebal Fagadau, the president of Constanta County Council - Nicuşor Constantinescu, the vicepresident of Constanta County Council - Cristinel Dragomir, Senator Nicolae Moga and MP Cristina Dumitrache. Many mayors in the county, whether members of the Social Democratic Partty (Matei Nicolae - Navodari Mariana Mircea - Cernavoda, Claudiu Tusac - Mangalia, Valer Muresan - Mihai Kogalniceanu, Dumitru Chiru - Lumina, Cristian Cârjaliu - Agigea etc.) or of the Democratic Liberal Party (Dumitru Bocai - Ovidiu, Florin Mitroi - Valu lui Traian), attended the event that also marked 15 years of collaboration between SC RAJA SA and the EBRD in addition to the loan agreement.

In order to sign this agreement, there were present Mr. Jean-Patrick Marquet, Bank Director of Municipal and Environmental Infrastructure for the EBRD, and Mr. Keith Kirkham, commercial attaché for the United States Embassy in Romania.

The event began with the presentation of the project by the Director General of SC RAJA SA, Felix Stroe, who spoke in particular about the benefits this investment brings on the local market. "The program will last until 2015. The loan, which we managed without great efforts to get it from the EBRD, follows the very good pre-and post-accession cooperation that we had with them. The first two auctions for the works in this project took place yesterday (Monday). We hope to undertake the contracts by the end of the year. The project creates jobs, which is very important; dozens of cities will gain conditions for a normal life. Fetesti, for example, will get 22 million euros", the general manager said

The EBRD representative had only good words regarding cooperation in the 15 years of fruitful partnership. "We're talking about high quality services offered to Constanta citizens and this is due to good management. EBRD is pleased to be part of this investment", said Jean-Patrick Marquet. The same good words about the project to be undertaken by SC RAJA SA have had the U.S. Embassy's commercial attache, Keith Kirkham, who called the investment a very significant one, especially since it is happening in a pour economic environment. "We have ambitious plans with RAJA for the next year", added Kirkham.

"We have to give credit for this to the former Minister Nemirschi, too"

The Mayor Radu Mazare and the County Council of Constanta president, Nicuşor Constantinescu, were excited about this investment and appreciated the project as the only significant investment this year.

"In these times of crises, you manage to bring in Romania almost a quarter of a billion euros. Others should learn how to attract money as you did", said Radu Mazare. County Council of Constanta president told the audience about the developments over the past six years: "In 2004, 80% of water and sewer system of Constanta was destroyed and exceeded and the water quality was very poor in Constanta. Since then, every month, every year, RAJA has developed a series of investments and today we start the biggest investment in Romania. We have to give credit for this to the former Minister Nemirschi, too. He was the one who brought the project to the surface from where it was hidden during his mandate," added Constantinescu.

200,000 euros to implement each day

After all the words of praise, representatives of local and county authorities signed a contract with Raja to support the investment. "A few days ago, at the Ministry of the Environment, I signed the contract for European funding for this project we have. Today we sign the co-financing given by EBRD. I made an account: starting today, we have to implement each day 200,000 euros", Stroe added.

At the end of the event, EBRD Director, Commercial Attache of U.S. Embassy and the Mayor Radu Mazare have signed the Book of Honor of the company.