$118m for Constanta Sud Harbour

The new container terminal in the Constanta Sud (South) Harbour that became operational yesterday will boost the capacity of one of the largest Black Sea ports, Constanta, by over 60%. The investment completed is part of the about $118 million Constanta Sud development project funded by the Japan Bank for International Cooperation (JBIC). The loan is repayable in 20 years and comes with a 10-year grace period at a 2.7% interest, the Japanese Embassy in Bucharest says. The project to expand the capacity of the Constanta Harbour will be carried out in several stages so that it would come to 800,000-1,000,000 TEU (Twenty-foot Equivalent Unit) by 2014-2015, seven times higher than it is now. ZF