The European Bank for Reconstruction and Development (EBRD) is close to selling Danube Logistics, the operator of Moldova’s main port, the international free port Giurgiulesti (PILG), to the state-owned operator of the Romanian port Constanta, following a competitive process that involved bidders from Turkey, Bulgaria, the Netherlands, and Denmark. If completed, the deal will consolidate the position of Constanta Port as the largest Black Sea port, making it a key player in the reconstruction of Ukraine.
The Moldovan government announced on July 11 that it approved the request of the Romanian state company Administratia Porturilor Maritime (CNAMP), which intends to invest over EUR 24 million in the development of the infrastructure of the Giurgiulesti International Free Port (PILG) currently managed by the EBRD.
PILG, one of the two ports located at Giurgiulesti (the other being a smaller port managed by the Moldovan state), is Moldova’s main gateway to sea and river-borne trade port to and from Moldova with integrated multi-modal connectivity through river, road, and rail networks.
The port is located at km 134 on the maritime section of the Danube, has a maximum water depth of 7 meters, and is capable of receiving both river and sea vessels. It has an oil terminal, two grain terminals, a terminal for other goods, and a business park.
The EBRD announced on June 27 that it had received multiple binding offers for the acquisition of PILG following a competitive procedure launched on April 14. The process regards 100% of the capital of the Danube Logistics group of companies, which includes Danube Logistics (Moldova), the operator of the port.
However, the EBRD has not announced the winning bid yet.
The EBRD said on June 27 that, following a competitive process, it “was progressing with advanced negotiations with the shortlisted bidders.”
The National Company Administration of Maritime Ports (CNAMP) is an institution under the authority of the Ministry of Transport and Infrastructure that operates the Port of Constanta with its three areas: Constanta, Midia, and Mangalia.
Azeri investor Rafiq Alyiev, also known as Rafig or Rafik, has contested the EBRD’s claim to the port. His company, Bemol, seized PILG’s assets in court in 2022. Moldovan president Maia Sandu stated in 2023 that the final sale of the port would not be approved until the legal case involving Alyiev and former owner Thomas Moser is resolved.
The ownership of PILG has been historically opaque, with the operator held by offshore entities and traded through confidential transactions (EBRD took it over through an offshore firm in 2021). The port’s operations have also been affected by frequent regulatory changes made without public consultation.
iulian@romania-insider.com
(Photo source: Ebrd.com)
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