BUCHAREST, Feb 13 (Reuters) - The European Bank for Reconstruction and Development (EBRD) will sell Moldova's Danube River port of Giurgiulesti to neighbouring Romania as the Black Sea state seeks to
Romania set to buy Moldova's Danube river port of Giurgiulesti, EBRD
Romania's Strategic Acquisition of Giurgiulesti Port
BUCHAREST, Feb 13 (Reuters) - The European Bank for Reconstruction and Development (EBRD) will sell Moldova's Danube River port of Giurgiulesti to neighbouring Romania as the Black Sea state seeks to boost its logistics role in central and southeast Europe, it said.
Details of the Transaction
The port of Giurgiulesti is near Moldova's borders with Romania and Ukraine. It sits 134 kilometres (83 miles) from the Black Sea and can be accessed by river and sea vessels.
Importance of Constanta Port
European Union and NATO state Romania is one of Moldova's strongest allies and a supporter of its accession to the EU. Its flagship Black Sea port of Constanta - which will take over Giurgiulesti - is a gateway to Central Asia and provides access to the Danube river and Western Europe.
Impact on Ukrainian Grain Exports
The EBRD acquired Danube Logistics SRL, the operator of Giurgiulesti port, in 2021.
EBRD "is set to complete the sale of Danube Logistics," the bank said in a statement late on Thursday. "The transaction is expected to close imminently."
The bank added the port of Constanta's board approved the share purchase agreement on Thursday. The statement did not disclose the value of the sale, but a minority shareholder of Constanta port said last year it amounted to roughly $62 million.
Investment in infrastructure and exports of Ukrainian grain in the wake of Russia's 2022 invasion bolstered Constanta port which could become a logistics hub for rebuilding Ukraine and as companies relocate operations to Eastern Europe's low-cost manufacturing hubs to shorten supply chains.
Constanta port has been Ukraine's main alternative grain export route. Although Ukrainian grain exports have fallen sharply last year, to 330,000 metric tons from 6.2 million in 2024, Constanta has facilitated the shipment of over 30 million tons since 2022, the port told Reuters.
(Reporting by Luiza Ilie;Editing by Elaine Hardcastle)
