EBRD lends US$12m for modernizing infrastructure of Giurgiulesti port

The European Bank for Reconstruction and development (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, Info-Prim Neo reports, quoting a press release from the EBRD Office 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. “This project will help implement a major program to support the ever increasing potential and demand for river and maritime trans-shipment services,” said Sue Barrett, EBRD Director for Transport. 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, it is said in the press release. 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.