The European Investment Bank (EIB) signed an agreement with Logistic Centre Varna EAD, part of Buildcom Group, for a €50 million loan to co-finance a new grain terminal at the Black Sea port of Varna. The EIB financing is backed by the InvestEU programme. The project 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.
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 is expected to become operational in the second quarter of 2026 and consists of a new quay, a silo and other storage facilities as well as a new railway and road access.
Executive Vice-President for an Economy that Works for People, Valdis Dombrovskis, said: "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. This shows the added value of EIB projects and InvestEU for driving regional private sector development and sustainable economic growth."
"The EIB is proud to strengthen its partnership with the Buildcom Group. The financing affirms our commitment to support Bulgarian business in modernising and expanding their operations in a sustainable way, contributing to the country's regional and economic development and increasing its competitiveness" said European Investment Bank Vice President Lilyana Pavlova.
Julian Stefanov, chief executive officer of Logistic Centre Varna EAD, said: "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."
This is the first EIB transaction in Bulgaria in which a private company is benefiting from the support of the InvestEU guarantee. The InvestEU programme mobilises investment for EU policy priorities like the green transition, including through support for sustainable infrastructure.
The investment will be focused on alleviating the need for an efficient and modern grain port terminal in a less developed region of the EU in terms of per-capita-GDP, thus underlining the EIB's commitment to equitable growth.
The project will have a positive impact on the environment, supporting a modal shift from road to less carbon intensive rail and maritime transport, reducing greenhouse gas emissions in transporting agricultural commodities to the regions and destinations in most need to mitigate food insecurity.
