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The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia.
The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia, Lithuania.
Wednesday, 3 September 2014
Investment developments in the logistic sector in Romania - new opportunities
The Port of Constanta is a strategic logistic hub at the Black Sea.
According to Prime Minister Victor Ponta, the Port of Constanta requires a development strategy through a partnership with a large port in China or other Asian countries, as well as Western ports, such as Rotterdam or Hamburg.
Currently, the Romanian state is the majority hareholder in Maritime Ports Administration Constanta with 80% of the shares - namely the Ministry of Transport with 60% of the shares and the City of Constanta has 20% of the stake.
The Romanian Government has been considering privatising the Port, keeping 51% of the shares.
In the meantime, excellent grain yields increase the importance of Constanta Port on the regional map and determine investments in storage facilities to support wheat trade. Recently a new storage and cargo handling facility has been inaugurated following a 15 million EUR investment of the Canopus Star - a joint venture owned by Cargill and the local firm TTS.
The new investment started in July 2013 - it is a ultramodern facility that increases the grain terminal capacity from 50,000 tons to 110,000 tons.
In 2009, the volume of grain exports stood at 4.2 million tons. At present the figure more than doubled, reaching 9 million tons, 97% by sea and over 90% from the Port of Constanta. According to Eurostat, Romania reported a production of 7.37 million tonnes of wheat in 2014, up from 7.34 million tons last year.
Romania currently has an estimated grain storage capacity of 17.5 million tonnes, most of which is owned by international traders such as Glencore, Ameropa, Cargill and important local players such as InterAgro or Comcereal.
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