1.As part of an operational programme, assistance under the regional development component may finance major projects.
2.A major project comprises a series of works, activities or services and is intended, in itself, to accomplish a definite and indivisible task of a precise economic or technical nature, which has clearly identified goals and whose total cost exceeds € 10 million.
3.Major projects shall be submitted to the Commission for approval by the relevant operating structure. The Decision approving the project shall define the physical object and the eligible expenditure to which the co-financing rate for the priority axis applies. It shall be followed by a bilateral agreement with the beneficiary country, laying down those elements.
4.When submitting a major project to the Commission, the operating structure shall provide the following information:
(a)information on the body to be responsible for implementation;
(b)information on the nature of the investment and a description of its financial volume and location;
(c)results of feasibility studies;
(d)a timetable for the implementation of the project before the closure of the related operational programme;
(e)an assessment of the overall socio-economic balance of the operation, based on a cost-benefit analysis and including a risk assessment, and an assessment of the expected impact on the sector concerned, on the socio-economic situation of the beneficiary country and, where the operation involves the transfer of activities from a region in a Member State, the socio-economic impact on that region;
(f)an analysis of the environmental impact;
(g)the financing plan, showing the total financial contributions expected and the planned contribution under the IPA Regulation, as well as other Community and other external funding. The financing plan shall substantiate the required IPA grant contribution through a financial viability analysis.