Romania’s government is set to invest approximately RON 1.44 billion (€290 million), primarily sourced from the European Union budget, to revamp the Black Sea Port of Constanta, the country’s maritime gateway, amid surging traffic demands.
The strategic investment includes infrastructure enhancements, such as rehabilitation of existing roads, water and sewerage infrastructure, and development of electricity distribution.
The initial phase of the investment includes around €145 million to be used over a 36-month period for the rehabilitation, expansion and modernization and of roads and passages
within the port. The project also includes €112 million for the development of the electricity distribution network.
The project will be financed through the a combination of non-refundable external funds via the Transport Programme (PT) and allocations from the Ministry of Transport and Infrastructure of Romania.
Total investment in the project now exceeds €500 million, including plans for the development of an artificial island within the port.
Total traffic of goods exceeded 19 million tons in the first quarter of the year, compared to 17.44 million tons in the first quarter of 2022, a year with record performances for the port of Constanța.
Ukraine shipped 8.1 million tonnes of grain through the port of Constanta in the first seven months of this year, according to the port authority. By comparison, Romanian port operators handled 8.6 million tonnes of Ukrainian grain in the whole of 2022.
In other news, freight logistics group TTS which handles agricultural products, minerals and chemicals on the Danube river, completed the takeover of Constanta port solid bulk cargo operator Decirom S.A. in July. TTS said it will invest 10 million euros ($11.12 million) to increase its operating speed by 2024.
