BUCHAREST: The Romanian government said on Wednesday it aims to buy neighboring Moldova’s Danube River port of Giurgiulesti from the European Bank for Reconstruction and Development as it seeks to boost its logistics role in central and southeast Europe. The port of Giurgiulesti is near Moldova’s borders with Romania and Ukraine. It sits 134 km (83.26 miles) from the Black Sea and can be accessed by river and sea vessels.

Romania is one of Moldova’s strongest allies and a supporter of its EU accession. The EBRD acquired Danube Logistics SRL, the operator of Giurgiulesti port, in 2021. European Union and NATO state Romania has become Ukraine’s biggest alternative grain export route since Russia’s full-scale invasion in 2022 and its main Black Sea port of Constanta has seen an influx of investment, including EU funds to increase its capacity.

Ukraine has shipped 4.62 million metric tons of grain via Constanta in the first seven months of 2024, with cargo arriving by road, rail and barge across the Danube River. On Wednesday, the Romanian government approved a memorandum to form a negotiation commission and begin talks with the EBRD to acquire Danube Logistics SRL. “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. The EBRD was not immediately available for comment. The government did not specify when it expected negotiations to take place or how much it was willing to pay. – Reuters