A consortium of leading British and European lenders has agreed a £200m package of loans to support the Port of Dover’s flagship capital building programme, the company said in its press release.
The Dover Western Docks Revival project will create a purpose-built cargo and logistics facility at the Port, which currently handles up to £119billion of UK trade each year.
Allianz Global Investors has agreed to provide the programme with a £55million private placement bond; RBS and Lloyds Bank have each provided a £35million revolving credit facility; and the European Investment Bank has confirmed a £75million loan.
In addition to bespoke cargo and logistics facilities, Dover Western Docks Revival will also allow the Port to create a dedicated ferry terminal in the Eastern Docks and a transformed waterfront for Dover.
Such strong confidence in the Port and the importance of its role comes as VolkerStevin and Boskalis Westminster is confirmed as the main Dover Western Docks Revival contractor, the Port of Dover acquires cargo handling operations in the Port from George Hammond PLC, and freight figures for 2016 indicate another record year for Dover.