OREANDA-NEWS. October 30, 2012. EBRD is planning to provide Danube Logistics with a loan of USD 12 mln. to back the infrastructure development project in Giurgiuleti Free Port.
A matter of extending the loan is to be considered on the Board of Directors of EBRD on November, 27, a spokesperson of the Permanent EBRD representation in Moldova informs. The loan is meant to build a mixed-gauge rail terminal and roll-on-roll-off ramp for horizontal loading and unloading. In particular, building of a 100 m. of the mixed-gauge rail on the territory of Giurgiulesti Port will connect Romanian and Moldavian rail ways since Romania as a EU country uses narrow gauge, whereas Moldova, Ukraine and other CIS states use broad one.

The project is valued at USD 30.7 mln. in total. EBRD is expected to lend USD 12 mln. Investment of EBRD is also meant to restructure the balance sheet of Danube Logistics through the refinancing of its short-term debt with the long-term loan. Thanks to assistance of EBRD Giurgiulesti Port will be turned into multipurpose logistic hub located on an intersection of sea trade paths between Eastern Europe and EU, providing a proper access to motor roads and narrow and broad gauges. With the help of the EBRD’s loan the port will become a multipurpose logistics hub at the crossings of maritime trade routes between Eastern Europe and the EU, with due access to road, rail (broad and narrow gauges), the Danube River and the Black Sea.

It will also contribute to an increased competition for Moldovan cargo traffic with the regional ports, including Gala?i in Romania and Odessa in Ukraine. Danube Logistics is the general investor, owner and operator of the International Free Port of Giugiulesti . Its shares are hold by EASEUR Holding BV , Holland, and the European Bank for Reconstruction and Development, with their shareholdings being 80% and 20% respectively.

The port occupies a territory of 120 ha. Giurgiulesti International Free Port is granted a status of the free economic zone and is comprised of the oil, grain, vegetable oil terminals, bulk freight, container and general terminals and the industrial zone. The port is the only direct transhipment and distribution river-sea point from and to Moldova, a regional transportation hub at the boarder with EU, providing access to road, railway, river and sea communication.

Giurgiulesti International Free Port is a perfect business platform for those who would like to benefit from its strategic location, three-module transport infrastructure, low cost advantages and the unique customs and fiscal regime.