The two lenders each granted the company EUR16.8 million. The loan comes with a EUR18.2 million guarantee on behalf of the Romanian state granted by EximBank, the bank said in a statement Monday.
The investment loan was granted for a ten-year period and Comvex will use the money to build a grain terminal with a capacity of 200,000 tons. In addition to the bank loan, Comvex will invest over EUR8 million of its own, raised on the stock market.
The terminal will be built at Pier 80 in Constanta Harbor, the deepest pier in the Black Sea, and will raise grain storage capacity and link the harbor to major grain export markets in Asia.
The grain terminal project is part of Romania’s general transport master plan and the Constanta Harbor master plan. It is also included in a railway infrastructure development project under the EU’s large infrastructure operational program.