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EU says yes to Port of Galați subsidies

Alex Hayes 30 July 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

ROMANIA The European Commission has approved, under EU State aid rules, Romania's plans to grant EUR 27.4 mln in investment aid to the Port of Galați, the largest sea-river port in the country.

In April 2019, Romania notified the commission of its plan to grant investment aid to the port. The project consists of building a new multimodal platform with a capacity of 150,000 TEU per year in the area called Port Bazinul Nou. The total investment cost amounts to EUR 89.9 mln. It will be co-financed by the Romanian State, regional funds via the Large Infrastructure Operational Programme (LIOP) and private money coming from concessionaires of the platform, as well as directly by the Connecting Europe Facility, a key EU funding instrument. The project includes, the upgrading of the quay and the buildings to the standards required for a modern intermodal terminal.

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