Antwerp Gateway secures financing for port expansion

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Antwerp Gateway secures financing for port expansion

Antwerp Gateway NV has achieved financial close for the expansion of a terminal of Port of Antwerp in Belgium

Antwerp Gateway has secured €125 million (US$137.6 million) financing from a banking consortium composed of Belfius, DNB Bank, KBC and KFW Ipex.

DNB Markets acted as financial advisor to Antwerp Gateway. The funds will be used to expand the terminal, purchase new equipment and refinance existing loan agreements.

Antwerp Gateway is a consortium composed of DP World which has 42.5% ownership, Zim Ports with 20%, Cosco Pacific with 20%, Terminal Link/CMA-CGM with 10% and Duisport with 7.5%.

The terminal, which is located at the Deurganck Dock at the Port of Antwerp, is operated by DP World. It has a capacity of 1.8 million TEU and is equipped with 9 Ship-to-Shore container gantry cranes, 14 Automatic Stacking Cranes (ASC) and 7 straddle carriers.

The port of Antwerp stands at the upper end of the tidal estuary of the Scheldt. The estuary is navigable by ships of more than 100,000 Gross Tons as far as 80 km inland. The inland location means that the port of Antwerp enjoys a more central location in Europe than the majority of North Sea ports. Antwerp's docks are connected to the hinterland by rail, waterway and road.

The port of Antwerp has become one of Europe's largest sea ports, ranking second behind Rotterdam by total freight shipped.

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