The construction of the Constanta-Trieste pipeline could generate 5,000 new jobs over the period the project is carried out, of which 1,000 will be permanent ones, according to the representatives of the Economy and Trade Ministry (MEC).

Oil Terminal and Conpet companies operating in this field, both state-owned firms, could become the operators of this pipeline, which will expand their activities and implicitly add to their revenues, according to the above-quoted sources.

According to MEC representatives, a meeting is scheduled in Bucharest in the second half of this month, during which possibilities related to the development of the project are going to be discussed and assessed.

For the time being, the form under which the financing of the project is to be provided has not been set, with the most likely scenario being the establishment of a project company that is to bear all construction costs.

"We are very interested in delivering the project related to the construction of Constanta-Trieste pipeline.

"To us, this is an opportunity we'd be ready to finance at any time. We would be connected to the crude oil resources of the Black Sea area and the Caspian Sea," says Dinu Patriciu, the chairman of Rompetrol group.

The group already owns the most important refinery of Romania, Petromidia, and could get other refining facilities in Serbia if it takes control over the majority stake in the biggest Serbian oil company, NIS (Nafta Industrija Srbije). Serbia, together with Croatia, Slovakia, Italy and Romania last week signed the ministerial statement for this project.

At present, there are three alternatives for the construction of this pipeline, as pointed out in the feasibility survey conducted by Hill International, a US firm specialised in providing consulting services for construction projects.

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