Northern Bulgaria’s grain and bulk port operations are set for a €50M (US$54.6M) boost from a European Investment Bank (EIB) loan to help finance a modern grain storage and transportation terminal at the Black Sea port of Varna, World Grain reported.

The project would 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, the 28 June report said.

EIB – the long-term financing institution of the European Union (EU) – signed the agreement with Logistic Centre Varna EAD, part of Buildcom Group, to co-finance the grain terminal, World Grain wrote.

According to the report, Buildcom Group – Bulgaria’s largest privately-held sunflower oil producer and leading grain trader – would integrate its logistics business and optimise grain and bulk port operations in the Varna area.

Due to become operational in the second quarter of 2026, the new grain terminal would comprise a new quay, silo and other storage facilities alongside a new railway and road access, the report said.

“The new terminal will provide local grain producers with … access to the liquid international markets,” said Julian Stefanov, CEO of Logistic Centre Varna EAD, was quoted as saying.

“It will be an important gateway for Bulgarian grain exports and will increase the country’s competitiveness in maritime transportation.”

The project would be the first EIB transaction in Bulgaria to provide a private company with support from the InvestEU guarantee, a programme which promotes investment for EU policy priorities such as the green transition, including through support for sustainable infrastructure, World Grain wrote.