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Project for new rail terminal at Giurgiulesti International Free Port in Moldova

PROGRAM / PROJECT NEWS 

17 January 2013 – London – The European Bank for Reconstruction and Development (EBRD) has announced a loan of 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.

giurgiulesti-international-moldovaThe 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.

For more information about EBRD projects in Moldova, go to http://www.ebrd.com/pages/country/moldova.shtml

Based on EBRD news article by Olga Rosca

The European Bank for Reconstruction and Development (EBRD) was established in 1991 to nurture the private sector in central and eastern Europe and ex-soviet countries. Today the EBRD uses investment to help build market economies and democracies in countries from central Europe to central Asia. The EBRD is the largest single investor in the region and mobilizes significant foreign direct investment beyond its own financing. Owned by 61 countries and two intergovernmental institutions, the EBRD provides project financing for banks, industries and businesses. For more information, visit http://www.ebrd.com/index.htm

Source: EBRD