Cyprus Mail

Cabinet approves €112m loan agreement with EIB for roads project

ΠτΔ – Υπουργικό Συμβούλιο // Por – C
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The cabinet on Thursday approved a €112m loan agreement with the European Investment Bank to fund the National Roads Project.

According to deputy government spokesman Panayiotis Sentonas said the roads project is expected to cost €224.4m. It includes construction or upgrading of four highways as well as the traffic camera system, which is expected to be rolled out later in 2021 after years of delays.

Sentonas said the project involves construction of Nicosia’s south circular road, the road from Limassol to Saittas, the Paphos to Polis road, and the road network of the Vasilikos energy centre.

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