7 March 2007
EU funds to drive Romania's Constanta port growth at 15-20pc a year
SHIPPING interests see cargo volumes at the Black Sea port of Constanta rising 15-20 per cent a year, as consumer wealth generated by widening European Union membership draws higher volumes of Asian cargoes into Romania and its hinterlands.
With Romania in the EU, an influx of European funds is expected to rapidly enhance road and rail links, resulting in an increase in private and public investments to reach EUR220 million (US$289 million) over two to three years.
Much growth is expected to centre at the DP World container terminal that already handles 870,000 TEU a year, and stands as the largest such facility on the Black Sea, reported the London Financial Times.
DP World Constanta terminal manager Rowan Bullock expects traffic to increase 15-20 per cent a year for at least three years as wealth flows to Europe's eastern regions enabling its population to buy more goods from Asia.
Source: Schednet