Calais Port 2015 project

Overview:

• The design, completion and financing of an extension to the Port of Calais, the Calais Port 2015 project, has been finalised and construction is underway. 
• The project is being led by Société d’Exploitation des Ports du Détroit, (SEPD Consortium), a consortium made up of CCI de région Nord de France, CCI Côte d'Opale, CDC Infrastructure and Meridiam.
• As well as the extension, a concession agreement was signed between the SEPD Consortium and the counsel of Nord-Pas-de-Calais concerning the operation, maintenance and development of the sea-ports of Calais and Boulogne-sur-Mer for the next 50 years.
• Financing for the extension project amounted to more than €900 million.
• The SEPD used a €504 million project bond private placement to finance the project, which was subscribed by Allianz and underwritten by the European Investment Bank (EIB) via its PCBE instrument.
• On top of this equity investors will contribute €89 million and €270 million will come from public funds. 
• Crédit Agricole CIB provided the VAT bridging loan.

John Crabb - Journalist