€450m to be invested in Balti-Suceava power line

A sum of €450m will be invested in a 400kV power line that will link the Moldovan town of Balti to Suceava town in Romania. A memorandum of understanding on financing the project is to be signed in the near future by the authorities of both countries, Moldovan Senior Deputy Premier Igor Dodon announced on Friday, Info-Prim Neo reports. According to Dodon, the construction of this line will be possible due to a partnership between the European Bank for Reconstruction and Development, Moldova's power utility Moldelectrica and Romania's Transelectrica, and an Italian company. The decision to start the project was made at the IV session of the Moldo-Romanian intergovernmental Commission on Economic Cooperation and European Integration, which took place on Wednesday and Thursday in Bucharest. According to the Moldovan official, another subject discussed at the session was the opportunity to build a high-tension power line between Ungheni and Iasi, following the construction of a power station in Ungheni, which, in turn, is to be built with Czech contribution. In addition, the Romanian side promised to consider at the next meeting of its Cabinet the possibility of opening an international customs checkpoint at Lipcani-Radauti, Dodon told reporters. The volume of Moldova's trade with Romania over January-June 2008 was $453.5m, up 64.1 percent on the similar period last year. In the mentioned period, Moldova imported from Romania goods valued at $298m, which is by $116m more than in the similar period last year.