Agreement reached on funding for Rotterdam port expansion
News - July 30, 2004
The Dutch State, the municipality of Rotterdam and Port of Rotterdam have concluded an agreement on financing for the construction of Maasvlakte 2, the plan to expand the port of Rotterdam.Construction of Maasvlakte 2 will cost € 2.575 billion. According to the agreement, the State will take a 33.3 per cent interest in Port of Rotterdam as of January 2006.
Port of Rotterdam CEO Willem Scholten said: "This is an extremely important agreement. The expansion will give businesses the opportunity to grow in Rotterdam. Maasvlakte 2 will be an excellent location, right on the sea, and with good hinterland connections. Construction can start in 2006 and the first sites will be available for clients in 2010. That will be in time - in conjunction with the current increase in capacity on Maasvlakte 1 - to accommodate the ongoing growth in Rotterdam."Maasvlakte 2 will be constructed in the North Sea, immediately to the west of the current Rotterdam port area. It will consist of 1000 ha of commercial sites, for container handling, chemicals and distribution. Maasvlakte 2 will be able to welcome the largest of ships, whatever the circumstances. With this expansion, the Rotterdam port area will be enlarged with 20 per cent.
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