EBRD to sell key Moldovan port of Giurgiulesti
CHISINAU. April 14 (Interfax) - The European Bank for Reconstruction and Development (EBRD) has launched an international tender to find a new investor for a key port in Moldova, the Giurgiulesti International Free Port.
"The EBRD [...] has launched a structured mergers and acquisitions (M&A) process through an international tender to identify potential strategic and financial investors who can further support the successful long-term development of this strategic asset for Moldova," the EBRD said in a press release.
The bank said that it was fully coordinating its search for an investor with the Moldovan government, with regard to aspects such as future business activity and the legal framework of the port's operation.
The EBRD also said that it had improved the efficiency, throughput capacity and profitability of the port since it became the owner in 2021. "The EBRD has consistently stated its intention to attract reputable investors to further support and develop the port into a competitive hub for regional and international trade," the bank said in the press release.
The EBRD is conducting the sales process in consultation with Raiffeisen Bank.
The bank said that more than 70% of Moldova's waterborne imports and exports were handled through the port, through which multiple types of goods can be delivered. "Its strategic role has increased in the region and the port is well positioned to serve for the future reconstruction of Ukraine," the press release reads.
The Giurgiulesti International Free Port is located 133.8 km from the Black Sea on the left bank of the Prut and Danube rivers in the village of Giurgiulesti. It is the only port in Moldova with access to the Black Sea. Built in 2006 after Ukraine transferred 430 meters of the Danube and Prut shore to Moldova, the port is in the immediate vicinity of the Romania and Ukraine borders.
The Giurgiulesti port has an oil terminal with a 63-tonne tank farm, as well as two grain terminals, a terminal for other cargo and a business park.
As reported, the Romanian government talked of signing a memorandum to purchase the Giurgiulesti port at the end of 2024. Bulgaria's MBF Port Burgas also emerged as a potential buyer.
It was also reported that the Moldovan authorities were planning to create a strategic petroleum reserve in the port's oil terminal.
Currently, the International Free Port of Giurgiulesti is managed by Danube Logistics SRL, a company owned by the EBRD since 2021. According to Romanian media, the port has become a strategic transit point for grain shipments from Ukraine amid disruptions in the operations of Ukrainian ports on the Black Sea.
