UAE giant secures 30-year lease
DP World has renewed its concession agreement with Constanta Port in Romania following a signing ceremony that included the Romanian Prime Minister.
The renewed deal was signed for a 30-year concession with DP World CEO Sultan Ahmed bin Sulayem.
DP World first began operations at the port back in 2004 after winning the concession bid for the Constanta South Terminal in 2003.
It will now seek to further develop the terminal, which serves both the Romanian domestic market and wider central European hinterland.
The planned development includes more than quadrupling the terminal’s capacity, according to reports.
At present, it can handle approximately 1 million TEU but expansion plans are designed to increase that figure to 4.5 million.