DP World Constanta, a subsidiary of the Dubai-based DP World, has renewed its concession agreement allowing it to operate in the Romanian Black Sea port of Constanta until 2049.
DP World Group chairman and CEO, Sultan Ahmed bin Sulayem signed the agreement with the Romanian Transport Minister Razvan Cuc in the presence of Romanian Prime Minister Viorica Dancila and Dr Ahmed Abdullah Al Matrooshi, UAE Ambassador to Romania.
DP World won the tender for the long-term concession of the Constanta Container Terminal in November 2003 and started operating it in 2004.
The new agreement allows DP World Constanta to maintain, operate and further develop the Constanta South Terminal.
The terminal serves both the Romanian domestic market and a wider hinterland spreading into parts of Central Europe, together with first-class feeder connections to the Ukraine, Russia, Bulgaria, Georgia and Moldova.
The geographic location has also proved ideal as a reliable trans-shipment hub for the greater Black Sea region.
The current capacity of the terminal is 1,000,000 TEU, and there is sufficient land area for phased expansion to cater for volumes greater than 4,500,000 TEU.
Source: Read Full Article