In the wake of this investment, transited agricultural product volumes are set to triple.
“Constanta is a very good location, connecting all the European states located along the Danube. Romania’s agriculture has grown in recent years and still has a good growth potential,” stated Martin Schuldt, in charge with the grain and oleaginous seeds line at Cargill.
Canopus Star terminal is a joint venture between TTS and Cargill, created in 2008, and the expansion of grain warehousing capacities through the construction of six new silos is the second project development stage.
Since the first phase of the project was launched, Romania’s grain exports have boomed, going from 4.2 million tons in 2009 to over 9 million tons at present. Around 90% of this quantity transits Constanta harbor.
Thus, the partners expect to transit around 1.5 million tons of grain, from less than 500,000 tons before capacity expansion.
“This investment will not open new markets for us, we will further deliver to Romania’s traditional markets, namely the EU, where we are competitive, but we will be more efficient,” specified Vasile Varvaroi, general manager of Cargill Romania, who took over from Martin Schuldt this year.
In the wake of Cargill-TTS’s investment, Constanta’s grain warehouses have reached a capacity of 900,000 tons, with another 200,000 tons awaiting approval.
(English version by Catalina Apostoiu)