EPH Grain Handling Terminal at Constanta Port, Romania
Monitoring authority on behalf of the European Bank for Reconstruction and Development
(EBRD) regarding a loan agreement between the Bank and Silotrans srl. (a Romanian joint
-venture company formed between East Point Holding Ltd. (EPH), a major Cyprus- based grain
trading company, and Romtrans S.A., (a major Romanian transportation company). The loan
was used for the construction of a sea-port grain terminal at the port of Constanta,
Romania, including bulk storage of 100,000 tons and facilities for handling road and rail
freight, as well as loading and unloading systems for barges and ships.
The project comprises of ten separate silos, each centrally fed and unloaded by conveyors
at the rate of 800 tons per hour. A pneumatic barge unloading system is used while
weighing of incoming grain is effected by automatic scale, allowing continuous transfer.
Simultaneous operations such as intake form barge, cleaning, weighing and transfer
to storage, outload to ship from storage, with weighing, intake from rail to storage,
intake from road to intermediate buffer bins, provide the terminal with adequate
versatility.
Lender Supervisor's tasks included the physical assessment and evaluation of the assets
contributed by the Sponsors as well as the physical realization of the project,
supervising procurement of materials and equipment, installation works, construction works
and ultimately commissioning of the facilities.
The project is currently the largest facility of its kind in the Black Sea, it was completed on time and within budget within 1998 and has been in full operation ever since.
After having successfully completed the supervision for the implementation phase of the terminal, TRITON was called upon to perform Lender Supervisor's duties on behalf of the European Bank for Reconstruction and Development for the operation and maintenance activities of the Terminal until 2007. A team of TRITON's qualified experts assist the Bank in monitoring the satisfactory performance of the borrower's activities, the arm's length conduct of operations with affiliated companies and other traders, the proper maintenance of plant and equipment of the terminal and the compliance with the applicable regulations. For this purpose, TRITON's expert team visits on a semi-annual basis the facilities of the project and examine the performance of the services offered by the borrower and the adherence of his operations to the Bank's requirements.
