(ANSA) - BUCHAREST - Raiffeisen Bank and EximBank Romania have signed at the end of last week a financing agreement of EUR 33.6 million with Comvex S.A., for financing the Grains Terminal project in Constanta Port, a press release informs.

The investment credit granted by the banking consortium includes in the guarantees mix an EUR 18.2 million guarantee issued in the name of and on the account of the Romanian State.

The financing, granted for 10 years, will support the development and processing by Comvex of a Grains Terminal of 200.000 tons capacity, a total investment of EUR 45 million. In addition to the financing from the banks, Comvex has raised funds from the capital market that facilitated a contribution of more than EUR 8 million.

The terminal will be built on Pier 80 of Constanta Port, the deepest Pier in Black Sea and will be a benchmark for Romania since it will create the possibility of charging at the fullest of the biggest grain transporter ships such as Panamax and Cape Size, up to 120.000 tdw. The facility will also connect Constanta Port with the most important export markets for grains in Asia and will increase the port importance in the region.

According to the company's estimates building of this terminal will contribute, in the first phase, to an increase in Romanian grains exports with more than 3 million tons, reaching 10 million tons at the end of the project. The project has a strategic tenure and is part of the Romanian General Transport Master Plan and the Master Plan for Constanta Port, that is integrated in a development project of the railway infrastructure through the Operational Program Big Infrastructure. (ANSA).