€23 mln to be invested in the expansion of the grain terminal in the port of Constanta

The investment will be carried out by TTS Group subsidiary and terminal operator Canopus Star, which will cover about 35% of the costs. The remainder will be financed through a bank loan currently under negotiation.

The new terminal will receive goods from barges and trucks through two unloading points with a handling capacity of 350 tonnes per hour each.

The two existing shiploaders will facilitate the transshipment of goods onto ships at a rate of 800 to 1,000 tonnes per hour.

The project also includes a new intake point for goods from river units, equipment for one of the two new truck unloading points, necessary equipment to serve the cargo flows and connections with the old terminal, as well as three in-line scales.

Founded in 1997, TTS is the parent company of TTS Group, a provider of integrated logistics services with port terminals in Constanta and seven Danube river ports.

TTS shares changed hands 3.76% higher at 4.95 lei as at 1435 CET on Friday on the Bucharest bourse.