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EBRD mulls 50 mln euro loan to DP World unit in Romania

Jul 10, 2024, 11:21:22 AMArticle by Alexandru Cristea
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July 10 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said that it is considering a loan of up to 50 million euro ($54.1 million) for Romanian-incorporated port terminal operator Constanta South Container Terminal (CSCT), a fully-owned subsidiary of Emirati logistics company DP World.

EBRD mulls 50 mln euro loan to DP World unit in Romania
Source; DP World Constanta

The loan would be used to co-finance CSCT's 200 million euro project to electrify the Constanta port, the EBRD said in a statement on Monday. The project will also receive funding from the European Union under its Alternative Fuels Infrastructure Facility (AFIF) programme or through other forms of EU funding.

The electrification of the port will involve investments in the electrical restoration of the terminal infrastructure, including new electrical networks and transformer points, new railway lines, electric vehicles, and charging stations, which will contribute to climate change mitigation.

"The project objective is to reduce the carbon footprint of CSCT operations, resulting from electrification and energy savings of the port terminal," the EBRD said.

CSCT was established in 2003 when DP World won a concession deal to operate Constanta's south port container terminal. In 2019, the concession contract was renewed for another 30 years.

In May, the Constanta port opened a new Roll-On, Roll-Off terminal jointly developed by DP World and the port administration.

($ = 0.9239 euro)

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