EIB Sets Aside EUR 165 Million for Amsterdam Sea Lock

The European Investment Bank (EIB) has agreed to provide EUR 165 million (187.5m) to support the construction of a new sea lock at IJmuiden, the principal access to the Dutch Port of Amsterdam.

The current Noordersluis lock was built in 1929 and the new larger lock will ensure that the next generation of bulk carriers, container ships and cruise ships can continue to access the Port of Amsterdam and the North Sea Canal, and is expected to reduce waiting time for ships.

The new sea lock will be 500 meters long, 70 meters wide and 18 meters deep, and able to operate in all tides. The IJmuiden sea lock is expected to support economic activity both along the North Sea canal and for companies using the Port of Amsterdam, Europe’s fourth busiest port.

Europe’s long-term investment institution will provide 33% of the debt financing for the project, alongside a consortium of banks including Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, UniCredit Bank, DZ BANK and KfW IPEX-Bank, whereas Rabobank is providing an equity bridge facility.

The lock is procured as a public private partnership of the Dutch Ministry of Infrastructure and Environment through Rijkswaterstaat, and is supported by the province of North Holland and the municipality of Amsterdam.

“90% of Europe’s international trade passes through ports and upgrading the IJmuiden sea lock complex is crucial to ensuring the Port of Amsterdam’s leading role. Amsterdam has more distribution centres than any other region in Europe and the port supports companies dependent on logistics across the Netherlands and northern Europe,” said Pim van Ballekom, European Investment Bank Vice President.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >