Agreement on funding Rotterdam port expansion

Friday, June 25, 2004
The State, the municipality of Rotterdam and Port of Rotterdam have today concluded an agreement on financing for the construction of Maasvlakte 2, the plan to expand the port of Rotterdam. The construction of Maasvlakte 2 will cost EUR 2.575 billion. According to the agreement, the State will take a 33.3 percent interest in Port of Rotterdam as of 1-1-2006. Port of Rotterdam CEO Willem Scholten: "This a 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 consists 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. The Port of Rotterdam CEO is also enthusiastic about state participation in Port of Rotterdam: "This participation by the State is a sign of the port's national importance", according to Willem Scholten. The State will take a 33.3 percent share, by acquiring newly issued stocks to the value of EUR 500 million. The municipality of Rotterdam will retain the remaining 66.7 percent. Maasvlakte 2 is part of Rotterdam Mainport Development Project. The aim of this project is to improve both the economy and the quality of life in the Rotterdam region. The two other components are the creation of a new 750 ha area around Rotterdam, devoted to nature and recreation, and a number of projects geared to making more intensive use of the existing space in Rotterdam's port area. In the agreement, the State, the Municipality of Rotterdam, the Province of South-Holland, Rotterdam Metropolitan Area and Port of Rotterdam have reached an understanding on how all three projects will be financed. Investments in the new nature and recreation area, the projects in the existing port area and the compensation for damage to nature caused by the construction of Maasvlakte 2 total almost EUR 500 million.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

Beacon Finland Appoints Rio Marine for US Support

Beacon Finland, a maritime-related firm engaged in naval architecture, marine engineering and equipment, has appointed Rio Marine to service its JAK-ATB coupling systems in the U.

Noncompliant Cargo Ship Banned from Australia

The 86-meter general cargo ship Noah Satu has been prohibited from entering or using any Australian ports for the second time in less than 12 months, following another round of safety,

‘Choice Alliance’ Formed to Serve BWT Market

A strategic alliance between Choice Ballast Solutions and Drew Marine has been formed to provide vertically integrated capabilities within the ballast water treatment (BWT) market.

Ports

Obama’s Budget ‘Grossly Imbalanced’ For US Ports -AAPA

Landside freight transportation funds would increase; navigation, port security and emission reduction funds would drop    The American Association of Port Authorities

Port of Oakland Plans for Terminal Closure

Port of Oakland sets plan to shift cargo when terminal closes; ships move to neighbor berths; Saturday and night gates to help cargo flow   The Port of Oakland

N.Korea Shipper Skirts UN Sanctions, Gets Port Access

A U.N.-blacklisted North Korean shipping company continues to evade sanctions through its use of foreign-flagged ships, name changes and other means of obfuscation,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0676 sec (15 req/sec)