EBRD seeks strategic investor for Giurgiulesti port

The European Bank for Reconstruction and Development (EBRD) has launched an international tender to attract a strategic or financial investor to support the long-term development of the Giurgiulesti International Free Port, the main maritime and river hub of the Republic of Moldova, according to a press release issued yesterday by the respective banking institution.

According to the cited source, the sale process is taking place in full coordination with the Government of the Republic of Moldova, targeting both the legal and commercial framework of the port. The objective is to attract investments in accordance with international standards and best practices in the field of port infrastructure.

The port of Giurgiulesti, located on Moldova's short outlet to the Danube, on the border with Romania and Ukraine, has a depth of up to 7 meters, handles over 70% of the country's maritime trade, plays a key role in maintaining supply chains and is considered a strategic asset for the region's economic development. The port can accommodate both river and seagoing vessels. At the same time, its location makes it relevant for future reconstruction efforts in Ukraine.

The port of Giurgiulesti has been supported by the EBRD since 1995, when the bank began financing its construction and operation. Over time, the port has experienced several financial and operational difficulties, but in 2013 the EBRD granted a new loan and became the main economic beneficiary of the port's activity.

The EBRD took full control of the port in 2021, through the acquisition of the Danube Logistics group. Since then, the bank has increased the efficiency, volume of operations and profitability of the port, constantly maintaining the intention to attract strong private partners to take the project to the next level. The financial institution is assisted in this process by Raiffeisen Bank.

We note that on August 27, 2024, the Ciolacu government approved a memorandum regarding the purchase of the Giurgiulesti Port through the National Company "Administration of Maritime Ports" SA Constanţa (APMC), a commercial company under the authority of the Ministry of Transport.

In fact, Prime Minister Marcel Ciolacu declared as early as September 2023 about Romania's intention to purchase the Giurgiulesti Port, in the context in which it is expected that our country will become an important hub in the reconstruction of Ukraine.

"We must realize that the Port of Constanta is strategic at the moment. I don't know what will happen to Odessa. There is another smaller port in the Republic of Moldova, Giurgiulesti, and already through the Minister of Transport Romania has shown its interest to the EBRD - because the majority shareholder in Giurgiulesti is the EBRD - to buy it and develop it," Prime Minister Marcel Ciolacu declared at the time, for Digi 24.