Romania’s Comvex, the largest bulk raw material handling terminal in the Black Sea area, starts the construction of the grain terminal with a capacity of 200,000 tons at the 80 berth of the port of Constanta, local media informs.
The new terminal is the only one in the region that is targeting the extra-large ships of 120,000-140,000 tdw due to the 18.5 million depth of the water, Comvex representatives said.
For this project, the company has budgeted EUR 5 million of retained earnings and, at the same time, the shareholders approved the contracting of bank loans worth up to EUR 52 million.
Comvex terminals at Constanta port are linked to the Danube, to the railway network and to the Constanta-Bucharest motorway. Weaker demand for mineral handling, coupled with an increase in grain exports from the region, including Hungary, Serbia, and Bulgaria, have driven Comvex to turn its attention to grain handling.
The volume of grain exported through Constanta port are estimated at 7.5 million tonnes for the marketing year that ended this June, accounting for 85 percent of Romania’s grain exports for the period. Romania’s exports of grains are estimated to have risen by 10 percent year-on-year to 9.5 million tons during the past marketing year. The harvest this year is expected to rise by 15 percent y-o-y to 24 million tons.
Comvex terminal, covers an area of 700,386 sqm in the south of Constanta Port, is the leading specialist in handling, storing and transshipment of dry bulk minerals such as iron ore, coal, coke, bauxite, etc., operating from the port of southeastern Romania.