The European Commission (EC) has approved, under EU state aid regulations, Romania's plans to grant investment aid worth EUR 27.4 million to the Galati Port, the country's largest river ports, Agerpres reported.

In April 2019, Romania notified the Commission of its plan to grant investment aid to the Port of Galati. The project consists of building a new multimodal platform with a capacity of 150,000 TEU per year. The total investment amounts to EUR 89.9 million. This will be co-financed by the Romanian state, will receive financing from the EU through the Large Infrastructure Operational Program (POIM) and the Connecting Europe Facility (CEF), a key EU financing instrument.

The project includes the modernization of the docks and construction of the necessary infrastructure for a modern intermodal terminal. The newly created logistics hub will promote the transition from road transport to rail transport and waterway, or sea transport, along the trans-European Rhine-Danube transport corridor, meeting an objective of common EU interest.

editor@romania-insider.com

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