IJmuiden Sea Lock PPP

20/10/2015
PPP, Project development, Project finance

€ 480 million

$ 508 million

Completed

20/10/2015


Overview:

  • IJmuiden Sea Lock PPP.
  • A consortium (OpenIJ), made up of BAM, Volker Wessels, DIF and PGGM is developing a new sea lock at IJmuiden, a port city in North Holland. 
  • The concession runs for 26 years.
  • The lock will be 70 metres wide, 500 metres long and 18 metres deep.
  • This is a part of Rijkswaterstaat’s Locks Programme. Rijkswaterstaat is the agency in charge of infrastructure projects in the Netherlands.
  • A group of lenders including The Bank of Tokyo-Mitsubishi UFJ, UniCredit, European Investment Bank (EIB), KfW IPEX Bank, DZ Bank, Rabobank and Sumitomo Mitsui Banking Corporation granted financing.
  • The project reached financial close on October 20 2015.
  • The EIB granted 33% of the senior debt financing.
  • The Bank of Tokyo-Mitsubishi UFJ, DZ Bank, KfW IPEX Bank, Sumitomo Mitsui Banking Corporation and UniCredit granted a long term facility and a bridge facility.
  • Rabobank granted an equity bridge facility. 
  • PwC advised Rijkswaterstaat.

Rani Mehta - Journalist 

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