Port Of Rotterdam Obtains EUR450 Million Loan For Maasvlakte 2

The port of Rotterdam has obtained a EUR450 million loan, to be used mainly for its Maasvlakte 2 expansion project, from a consortium of Dutch banks consisting of Fortis (FORSY), Rabobank and ING (ING), the Port Authority of Rotterdam said Friday.

Bank Nederlandse Gemeenten, or BNG, Fortis, Rabobank and ING have also agreed to provide EUR50 million of working capital to the port of Rotterdam.

This is the third big loan the port has obtained within one month. Earlier the European Investment Bank and BNG announced loans of EUR900 million and EUR450 million respectively, the Port Authority of Rotterdam said in a statement.

The first stage of Maasvlakte 2 will be built between 2008 and 2013, and includes the construction of sea defenses, the first harbor areas, 2.5 kilometers of quay walls, and road and rail links.

The total investment needed for Maasvlakte 2, which includes the construction of 2 liquified natural gas terminals in the harbour, is EUR3 billion.

The port of Rotterdam, the Dutch government and a number of companies have agreed to invest a total of EUR12 billion in the port in the coming five years.

Source:RamblerNews