The agreement will support the development of new infrastructure at the Romanian Port, which serves as a crucial gateway for trade into Eastern Europe.
The aim is to make it one of the key cargo and vehicle hubs on the Black Sea.
To increase cargo vessel traffic at the port, the Ministry of Transport and Infrastructure plans to build a new Roll-on/Roll-off (Ro-Ro) terminal.
PCFC and DP World will work together to upgrade the Pier II-S infrastructure at the port.
DP World will be responsible for the project’s implementation. The company will also invest in physical and electronic assets to transform Constanta into a major centre for imports into Europe.
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DP World Group chairman and CEO Sultan Ahmed Bin Sulayem said: “We are proud of the confidence that the government of Romania continues to show in us and look forward to delivering a world-class, integrated supply chain solution that will enhance Constanta Port and Romania’s position in the region.
“This agreement is a testimony to the strength of the relationships we build with our partners around the globe.”
As part of a concession contract, which is valid until 2049, DP World already operates the Constanta South Container Terminal (CTST), which has an annual capacity of 1.5 million twenty-foot equivalent units (TEU).
Furthermore, the company intends to construct a new road-rail intermodal terminal at Aiud in Romania. It is anticipated to start operations in the first half of next year.
In January, DP World began the construction of a $1.13bn deep-water port in Senegal.