European Commission approves US$30.2m investment in Romania's river ports
THE European Commission has given the go-ahead to Romania's investment plan worth up to US$30
THE European Commission has given the go-ahead to Romania's investment plan worth up to US$30.2 million to the nation's biggest river ports, with the goal of building a multimodal platform with an annual container handling capacity of 150,000 TEU.
The project entails the modernisation of the quay and the building of the infrastructure needed for a modern intermodal terminal, reported Port Technology, London.
In total, the project is anticipated to cost $100 million, and will be co-financed by the Romanian state and the European Union through the Large Infrastructure Operational Programme (POIM) and the Connecting Europe Facility (CEF) financing instrument.
The ultimate target is to expand the logistic hub to support the transition from road transport to waterway transport along the trans-European Rhine-Danube corridor, to enhance connections to the East for the flow of goods from major ports including Rotterdam, Vienna, Mainz and Strasbourg.
Romania's share of the Danube Basin is the largest at 30 per cent. The ports of Galati, Girugiu and Braila are located on Romania's section of the river.
The Commission said in a statement that the state aid was 'necessary, proportionate and that the distortion of competition will be limited, given the relatively small-to-medium size of the port of Galati, with limited transport volumes at EU level.
'Furthermore, according to traffic growth forecasts, the slight capacity increase created by the project would be offset by the increase in demand, mainly stemming from other road-based flows transport routes on the Rhine-Danube territory.'