EBRD co-finances Gdansk port terminal

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EBRD co-finances Gdansk port terminal

The European Bank for Reconstruction and Development (EBRD) is providing €31 million to DCT Gda?sk S.A to co-finance the construction of a second deep-water berth at DCT Gda?sk container terminal in northern Poland and also to refinance existing debts.

The EBRD loan will be co-financed by commercial banks which will jointly provide the balance of up to €259 million (US$322.5 million) for the investment. The total loan amount is €290 million (US$361.1 million).

DCT Gdansk SA is a privately owned company incorporated in Poland. It is majority owned by Global Infrastructure Fund II, an investment fund managed by Macquarie Infrastructure and Real Assets (MIRA), and three Australian superannuation pension funds.

This announcement comes after DCT Gdansk announced NV Besix SA as general contractor for the expansion of the Baltic sea port.

The construction of a second deepwater container terminal will create much-needed additional capacity at DCT. DCT, the largest private sector terminal operator in Poland, is already working close to capacity. The new terminal will raise the total handling capacity of 3 million TEU.

The new berth is expected to be operational by 2016.

This will allow the operating company DCT to meet increasing demand for container port handling services in the Baltic Sea area. DCT Gda?sk is both a gateway for Poland as well a major transhipment hub for the majority of the South and East Baltic region. It is also the most-easterly Baltic container terminal with a deep draft facility capable of receiving Ultra Large Container Vessels with over 18,000 TEU container capacity, used for the inter-continental trade from Asia to Europe.

Sue Barrett, EBRD Director, Transport, commented:

"We are very proud to sign this project with DCT today because a thriving port in Gda?sk is the key to a prosperous city and a prosperous hinterland. The growing demand for its services illustrates the strength of Poland's and the Baltics' economy and the expansion of the facilities will further boost the development of the region."

DCT Gdansk CEO Maciek Kwiatkowski added

"We are approaching the completion of the project's initial phase which directly precedes the construction works. The decision to develop the existing DCT Gdansk container terminal is a result of the growing need for more efficient and economic transport solutions in the Baltic region, able to compete effectively with the services of  European container ports. We are proud to be the market leader in bringing about innovation in the CEE region's trade patterns."

The expansion of the country's most important sea hub will serve growing demand for container port handling services and boost the local and regional economy.

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