Romania’s Government Initiates Talks on the Acquisition of Shares in the Giurgiulesti Port from the EBRD

The Romanian government has approved a Memorandum on initiating negotiations on the acquisition by the Romanian state of shares in the company Danube Logistics SRL, which administers the Giurgiulesti International Free Port. For now, 100% of the company’s shares are owned by the European Bank for Reconstruction and Development (EBRD), which has previously announced its openness to negotiations on the sale of the company. Romanian government spokesman Mihai Constantin said that the Memorandum approved on Wednesday provides for the creation of a negotiating commission. It will include representatives of the Ministry of Foreign Affairs, the Ministry of Transport and the Ministry of Finance. The group of negotiators will be headed by the Secretary of State of the Transport Ministry Bogdan Stelian Mindrescu. Romania intends to negotiate the acquisition of a        major share of stock, which will be administered by the National Company Administratia Porturilor Maritime SA Constanta. “We are talking about making compatible what already exists and unloading the incoming cargo flow in order to turn the port of Constanta in this ecosystem into one of the most important points of convergence of cargo flows in this part of Europe,” said Mihai Constantin. Romanian Prime Minister Marcel Ciolacu announced Romania’s intention to buy the Giurgiulesti International Free Port a year ago. He stated that Romania is interested in this, as it intends to play an important role in rebuilding Ukraine’s infrastructure after the war, and also seeks to expand the port of Constanta to turn it into a leading port on the Black Sea.