A cabinet press release said that the application for preliminary approval of the investment envisages the acquisition of 100% of the share capital of the general investor and operator of the ISPD ÎCS “Danube Logistics” SRL, a private company 100% owned by the EBRD.
The proposed investment plan aims to develop a terminal with ramps, establish a container terminal, modernize the railroad, expand warehousing facilities, digitalize port activities and implement energy efficiency solutions and transition to a green economy.
This decision looks strange on two positions. First, that the investment of 24 million euros provides for the acquisition of 100% of the authorized capital of the port operator. The proposed price in no way reflects the real value of the port’s assets, in the development of which at least 70 million euros have already been invested.
Secondly, the European Bank for Reconstruction and Development, which owns 100% of the shares of the port operator, Danube Logistics, announced on April 14, 2025 an international tender to find a new strategic investor for its asset. The results of the tender have not yet been officially announced. There is no information on the EBRD website about the completion of the tender. And under these circumstances, the Moldovan government (the Investment Council is headed by Prime Minister Dorin Recean and the press release was sent out by the government press service) approves the investment for a Romanian state-owned company, one of the bidders.
Two conclusions can be drawn from this information. Either the Moldovan government openly lobbies the interests of one of the bidders, thus violating the principles of loyal competition, or the tender was conducted by the EBRD “for the sake of ticking boxes”. In fact, the decision to sell the port has already been made, and now it is only necessary to “nicely” get out of the situation with the tender.
It is not excluded that the decision of the Council for Investments of National Security Importance will be presented as a key argument for the “victory” of the Romanian company in the EBRD tender.
Logos Press will continue to follow this situation and will tell in more detail what is behind such a strange decision of the Investment Council.
