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The European Investment Bank (EIB) and Logistic Centre Varna, part of Buildcom Group, signed an agreement for a EUR 50 million loan to co-finance the construction of a new grain terminal in Varna port, at the Black Sea. This agreement was made possible with the support of the InvestEU programme.
EUR 100 million is the total estimated value of the new terminal which is expected to become operational in the second quarter of 2026. The project consists of a new quay, a silo and other storage facilities as well as a new railway and road access. Logistic Centre Varna will develop and operate the new freight facility situated the vicinity of the Port of Varna, located along the TEN-T.
“With its modern facilities, the new terminal will provide local grain producers with an efficient and price-competitive access to the liquid international markets. It will be an important gateway for Bulgarian grain exports and will increase the country’s competitiveness in maritime transportation,” Julian Stefanov, chief executive officer of Logistic Centre Varna EAD, said.
Through the EIB support, Buildcom Group, which is Bulgaria’s largest privately-held sunflower oil producer and leading grain trader, will integrate the logistics side of its business and optimise grain and bulk port operations in the Varna area.
The new grain terminal in Varna port will support food safety, promote less carbon intensive maritime transport, and boost economic growth in the region by providing improved access to the export market for local agricultural producers.
“Co-financing a new grain terminal at the Bulgarian port of Varna will boost the trade and export capacity of one of Europe’s less developed regions. It will enable local producers to access export markets, facilitate trade and investment, and create jobs, while serving wider EU goals to make supply chains stronger and more diversified in support of long-term food security,” the Executive Vice-President for an Economy that Works for People, Valdis Dombrovskis, said.
The project supports the development of sustainable and safe transport infrastructures in accordance with EU transport priorities and the commitments taken under the Paris Agreement, in particular through the development of port facilities integrated in the TEN-T. It is aligned with the priorities of Connecting Europe Facility (CEF) and increases the capacity of the Solidarity Lanes by providing an optional route to transport Ukrainian agricultural commodities to exports markets.
This is the first EIB transaction in Bulgaria in which a private company is benefiting from the support of the InvestEU guarantee. Buildcom Group is one of the largest Bulgarian traders of grains and fertilisers with over 2 million tonnes of grains and oilseeds purchased annually and holding about 20% market share of Bulgarian grain exports. The group operates three sunflower oil producing plants and is the leading sunflower oil and sunflower meal producer in Bulgaria with more than 50% market share of Bulgarian sunflower oil production. |
