IFC invests €12 mn in TTS shipping logistics improvement

IFC invests €12 mn in TTS for shipping and logistics improvement

9:55 AM, 9th July 2012
IFC invests €12 mn in TTS for shipping and logistics improvement
Danube River basin. © Romania Business

BUCHAREST, ROMANIA: IFC, a member of the World Bank Group, is investing up to €12 million in S C Transport Trade Services (TTS Group) and its subsidiaries to improve shipping and logistics services in Romania, especially across the country’s Danube River basin, boosting trade and industry in the entire region. This investment will contribute to further develop the Danube corridor as a bulk commodity transportation route, particularly benefiting the agricultural sector and other export-oriented industries.

“Our investment will help TTS to acquire new vessels and further develop operations at ports on the Danube and in Constanta. The increased use of the Danube corridor can significantly improve trade and exports not only from Romania, but also from Austria, Bulgaria, Germany, Hungary and Serbia,” said Tomasz Telma, Director for Europe and Central Asia, IFC.

© WOC News

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