Separately, the US International Development Finance Corporation has committed $125 million to ONEX to expand the Elefsina shipyards. While Elefsina is not part of the tri-national plan, the US intends for the facility to serve as a commercial and logistics alternative to the Piraeus port, which is majority-controlled by China's COSCO.
Tuesday, October 20, 2026
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Greece Bulgaria Romania Sign €22.8B Plan to Link Aegean and Black Seas
Geopolitics17 days ago
A joint initiative for connectivity across the Balkans was finalized in Brussels on Sept 29 to streamline the movement of goods and personnel toward Eastern Europe. The agreement between Greece, Bulgaria and Romania establishes 25 priority transport projects costing €22.8 billion to link the Aegean Sea, the Danube and the Black Sea, with onward extensions to Moldova and Ukraine. The plan prioritizes rail infrastructure, including the Ruse–Giurgiu–Bucharest railway and a new road-and-rail bridge over the Danube, connecting Athens, Thessaloniki and Alexandroupoli with Sofia and Bucharest to support military mobility for NATO and reduce reliance on the Turkish straits.
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