The Romanian government has announced that it will begin talks with the EBRD about purchasing shares in the Giurgiulești International Free Port in Moldova.
Romanian government spokesperson Mihai Constantin informed that a memorandum authorising the start of negotiations with the EBRD has been approved. The memorandum established a negotiating committee composed of representatives from the Ministries of Foreign Affairs, Transport, and Finance, whose task is to initiate negotiations with the bank regarding the acquisition of these shares.
The plan is that, after acquiring the port, it will become “one of the main cargo hubs in Eastern Europe,” said Constantin.
Located in southern Moldova, Giurgiulești is the country’s only port with access to the sea. After Russia imposed a blockade on Ukrainian ports in the Black Sea in 2022, the significance of the Moldovan port increased significantly. In 2022, the port handled a record volume of 18 million tonnes of cargo, largely taking over shipments to and from Ukraine.
The acquisition of the EBRD’s shares in Danube Logistics SRL, the operator of the Giurgiulești International Free Port, is to be carried out through Administrația Porturilor Maritime SA Constanța – the operator of the port in Constanța, which belongs to the Ministry of Infrastructure.
Due to its location on the border with Ukraine, the Moldovan port could become an important hub in the future reconstruction of Ukraine. Additionally, it could also bring benefits to Romania in connection with the development of the so-called “Middle Corridor” of the New Silk Road. One stage of this route is the section between Georgian and Balkan ports on the Black Sea. The location of the Moldovan port at the confluence of the Prut River and the Danube offers the opportunity for transshipment and further transport of goods to the heart of Europe.
Giurgiulești also houses a state-owned port, but the Moldovan government does not intend to sell it.