The Romanian government on August 28 approved the start of negotiations with the European Bank for Reconstruction and Development (EBRD) for the purchase of a major stake in Moldova's Danube River port of Giurgiulesti.
The port, located near Moldova's borders with Romania and Ukraine, is 134 kilometers from the Black Sea and can be accessed by river and sea vessels.
Two different port infrastructure entities operate in Giurgiulesti -- Giurgiulesti State Port and Giurgiulesti International Free Port. The Moldovan government said on August 28 that it does not intend to sell the state port.
The negotiations will take place with the operator of the Giurgiulesti International Free Port, Danube Logistics SRL, which was acquired by the EBRD in 2021.
The Romanian government approved a memorandum to form a negotiation commission and begin talks with the EBRD to acquire Danube Logistics SRL. The purchase would be made through a company controlled by the Romanian state through the Transport Ministry.
"The Romanian state has expressed interest to buy the shares given competition between Constanta port and the other Black Sea ports and those of other EU states, as well as the expansion of Constanta port and its transformation into a market leader for central and southeast Europe," the memorandum said.
A Moldovan government spokesperson said EBRD is negotiating with several potential investors, including from Romania, Turkey, the Netherlands, and Denmark.
The Romanian government did not specify when it expected negotiations to take place or how much it was willing to pay, but it appears to be under pressure to start negotiations because the Bulgarian company MBF Port Burgas has already shown interest in Giurgiulesti.
MBF Port Burgas operates two terminals in the Port of Burgas in southern Bulgaria and is part of Navigation Maritime Bulgare (Navibulgar). Until 2008, Navibulgar was the largest shipping company owned by the government in Sofia.
After the privatization, Navibulgar ended up in the portfolio of billionaire brothers Kiril Domuschiev and Georgi Petrov Domuschiev, who are close to former Prime Minister Boyko Borisov.
RFE/RL contacted MBF Port Burgas for comment but didn't receive a response.
An EBRD official confirmed to RFE/RL that the bank wants to sell its stake in the port of Giurgiulesti and is interested in making the process transparent.
"EBRD wants to find a reputable buyer for the port. We are often approached by various interested buyers, but we are currently focusing on working with the government of the Republic of Moldova to pave the way for a transparent sale process," the EBRD official said.
Romania's main Black Sea port of Constanta has seen an influx of investment, including EU funds to increase its capacity, since becoming Ukraine's biggest alternative grain export route following Russia's full-scale invasion in 2022.
According to the memorandum, taking into account the competition between the Port of Constanta and the other ports of the Black Sea basin and of the EU member states, the purchase of Giurgiulesti International Free Port would help to expand the port of Constanta and transform it into a market leader for Central and Southeastern Europe.
The Romanian state's interest in the port was announced last year by Prime Minister Marcel Ciolacu.
Through this investment, Romania will become one of the most important international hubs for the reconstruction of Ukraine after the end of the war, he said at the time.
By RFE/RL
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