The Port of Rotterdam Authority has announced that it has secured a €900 million ( US $ 1.13 Billion) loan from the European Investment Bank (EIB) to finance the future expansion of the port. The 30-year loan will be used in part to help in the funding of the port’s €3 billion land reclamation project, Maasvlakte II.Maasvlakte II will expand Europe’s largest container port by a further 2,000 hectares to a total of 12,000 hectares. “The volume of this €900 million EIB loan together with its very long duration makes it the cornerstone of our investment financing,” said Port of Rotterdam CFO Paul Smits.
Funding agreements for the flagship infrastructure initiative were signed by European Investment Bank President Werner Hoyer and Port of Rotterdam Authority CEO Hans Smits and CFO Paul Smits during a visit to the Netherlands. “The European Investment Bank is pleased to have worked closely with the Port of Rotterdam Authority over many years to ensure that expanded port facilities provided by Maasvlakte 2 can benefit economic activity in both the Netherlands and elsewhere in north-western Europe.”
DP World and APM Terminals will both operate new container facilities Maasvlakte 2, with both terminals scheduled to begin operations in 2014.
Read More: Rotterdam Port expansion granted €900 million EIB loan
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