BUCHAREST (Romania), February 19 (SeeNews) – Romanian port operator Umex Constanta has borrowed 37 milion euro ($39 million) from Dutch lender Cooperatieve Rabobank to finance two construction projects, credit advisor Filip & Company said on Wednesday.
Rabobank provided the financing in two separate loans, Filip & Company said in a press release.
The purpose of the first loan is to finance the acquisition and installation of a new silo, while the second loan will go towards the cost of construction of a warehouse for bulk goods. Both facilities will be located in the port of Constanta.
The credit is guaranteed by Denmark's Export Credit Agency (EKF).
"We are pleased to have had the opportunity to assist Cooperatieve Rabobank in these projects and we are delighted to see that there is still a sustained appetite by European banks to finance projects in our country," Filip & Company partner Alexandra Manciulea said.
Located in the central area of Constanta Port, the Umex terminal spreads on 140,000 sq m.
Some 1.5 million tonnes of bulk cereals, bulk and bagged fertilizers, heavy equipment and metallurgical products are processd at Umex Constanta terminal every year.
($=0.9258 euro)