BVB-listed TTS upgrades port of Giurgiu on Danube with EU funds

Transport Trade Services (BVB: TTS), the main provider of integrated logistics services on the Danube, listed on the Bucharest Stock Exchange (BVB), received financing from European funds for the modernization of Giurgiu port, Ziarul Financiar reported.

It will modernize two berths in the Ramadan area of the port, totaling RON 23.8 mln (EUR 4.8 mln), according to company officials.

The total contribution of TTS to the project is RON 9.5 mln (EUR 2 mln), the remaining RON 14.4 mln (EUR 2.8 mln) being non-reimbursable financing under the Cohesion Fund (RON 12.2 mln) and the state budget (RON 2.2 mln).

The project is co-financed under the Cohesion Fund through the Large Infrastructure Operational Program 2014-2020 (POIM 2014-2020), within the call for projects to improve navigation conditions and develop port infrastructure and superstructure located on the Trans-European Transport Network TEN-T Core (public and private beneficiaries) - new investment projects.

The expected results following the implementation of the project consist of the building or rehabilitation of 9,980 sqm of platforms, a 175-meter long water network for preventing fires, an electric substation (20 / 0.4kV), 700-meter electrical network, 150 meters of runs for cranes, a 150-meter railway track as well as administrative space, according to company officials.

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