Early Warning System

Countries

Romania

Geographic location where the impacts of the investment may be experienced.

Specific Location

Constanta

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Sep 10, 2024

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

CONSTANTA SOUTH CONTAINER TERMINAL SRL

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Infrastructure
Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 54.15 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 50
Converted using 2024-07-08 exchange rate.

Project Cost (USD)

$ 216.61 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 29, 2024

Disclosed by Bank Jul 8, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of a senior loan of up to EUR 50 million to Constanta South Container Terminal SRL incorporated in Romania, a fully owned subsidiary of DP World (the "Parent"), to finance the electrification of Constanta port.

The electrification of Constanta port operated by CSCT envisages investments in the electrical restoration of the entire terminal infrastructure, such as new electrical networks and transformer points, new railway lines, electric vehicles and charging stations, which will significantly contribute to climate change mitigation.

The project objective is to reduce the carbon footprint of CSCT operations, resulting from electrification and energy savings of the port terminal.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised B (2019 ESP). The project consists in the electrification of Constanta's south port infrastructure.

Key E&S risks related to decommissioning of the old electrical infrastructure as well as of loading/unloading facilities by replacing the diesel engine with electric powered cranes and installing new electrical networks and transformer points, power connection with the main port power station, power connection with the main grid, new internal railway lines, operation equipment, power supply for vessels, as well as restoration of the yard infrastructure include: occupational health and safety (especially electrical safety for installation and maintenance workers and excavations), soil disposal and waste management, noise and air emissions as well as supply chain and contractor management, labour rights (including contractors/gender) and stakeholder engagement.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

A senior loan of up to EUR 50 million.

The total Project cost is estimated at EUR 200 million, to be co-financed alongside the EU under its Alternative Fuels Infrastructure Facility Programme ("AFIF"), with the European Bank for Reconstruction and Development (the "EBRD") acting as Implementing Partner, or through other forms of EU funding.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

CONSTANTA SOUTH CONTAINER TERMINAL SRL - CSCT was set up in 2003 when DP World, one of the largest marine terminal operators in the world won the concession to operate Constanta's south port container terminal.

CSCT Terminal is benefitting from state of art infrastructure with excellent deep - water access and multimodal connectivity by sea, road and rail. Due to the free port zone status, the Company has direct access to the electrified national rail network, two motorways connecting Constanta to central and south-east Romania, the Black Sea i Danube Channel and the nearby airport in Constanta County.

Currently, the Company operates a 1.5 million TEU capacity terminal in Constanta, Romania the largest container terminal at the Black Sea.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	CONSTANTA SOUTH CONTAINER TERMINAL SRL	Client	-
-	-	-	-	DP World	Parent Company	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

COMPANY CONTACT INFORMATION

George Carpusor
George.Carpusor@dpworld.com
+40-241-700-100
https://www.dpworld.com/romania
Administrative Building PIER II-S Constanta South, 900900 Romania

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html