EBRD supports modernisation of port infrastructure in Moldova
Posted: 10 January 2013 | | No comments yet
The EBRD is lending US$ 12 million to Danube Logistics to finance the construction of a mixed gauge rail terminal in Moldova…
The EBRD is lending US$ 12 million to Danube Logistics, the owner and operator of the Giurgiulesti International Free Port, to finance the construction of a mixed gauge rail terminal in Moldova.
The Giurgiulesti International Free Port is a key regional link to international railways and roads, located at the confluence of the rivers Danube and Prut in the south of Moldova, between Romania and Ukraine.
The Free Port has the status of a Free Economic Zone (FEZ) and is a multipurpose logistics hub that includes an oil terminal, container and general cargo terminals, and grain and vegetable oil terminals. It is the only such hub in Moldova.
The funds will be used to improve the overall standard of the port infrastructure as well as complete the railway link to the terminals that handle containers, general cargo and dry goods shipped in bulk such as grain and coal. As a result, trans-shipments onto and from railway wagons will no longer require internal transfer by truck and will avoid multiple lifts by cranes, making port operations much more cost and time efficient for Moldovan businesses.
“Rehabilitation of the infrastructure in Moldova is an investment priority for the Bank. This project will help implement a major programme to support the ever increasing potential and demand for river and maritime trans-shipment services. The port already plays a big role in offering a tri-modal transport infrastructure, a low cost environment and a unique customs and tax regime due to its FEZ status”, said Sue Barrett, EBRD Director for Transport.
The EBRD, one of the largest investors in Moldova, has to date signed around 90 investment projects in the country, covering energy, transport, agribusiness, general industry and banking sectors, for a cumulative amount of over €700 million.