UK: London Gateway Scoops Prestigious Award
DP World‟s London Gateway project has been awarded the coveted „Global Deal of the Year‟ for 2011 at the Infrastructure Journal Awards.
The successful London Gateway team was accompanied by representatives from Allen & Overy, Royal Bank of Scotland and Société Générale, who all played key roles in advising and financing the project.
The award recognises the delivery of outstanding infrastructure projects and is recognition of the deep-sea container port successful project financing, which was fully secured in December last year.
Sarmad Qureshi, Director of Finance for DP World’s Europe and Russia region, collecting the award on behalf of the team said: “This award is further endorsement of the London Gateway project. It sends a clear message to our customers that this is a globally significant development which has secured world class financial backing. Securing this deal has allowed construction to forge ahead and I am delighted that we were able to close on what has been recognised as the best infrastructure project deal in all sectors. No mean feat, given the economic climate we operate in.
“We are very confident that London Gateway will be able to deliver substantial supply chain cost savings to global shippers. Thanks to our closer location to key UK markets we will also be able to help customers move their goods in a greener, more efficient way, reducing CO2 and other transport emissions.”
Kevin Maddick, Head of Infrastructure at RBS, said: “Leading the debt advisory and financing on this project allowed us to see for ourselves what a critical piece of infrastructure London Gateway will become for the UK. Working with our partners on the team, we were all impressed by the vision of the project and this award vindicates our confidence in financing its development.”
Conrad Andersen, Partner at Allen & Overy, was delighted to be part of the winning team: “The London Gateway project is one that will deliver tangible benefits to the UK economy. This award is testament to the hard work and dedication of everyone involved in making the project a success and ensuring the financing was put in place quickly and efficiently was an important part of that.”
Charles Greenfield, Managing Director of Infrastructure at Société Générale, commented: “I am delighted that the DP World London Gateway has received this deserved recognition. This was a world class financial deal for a world class project. Securing top quality funding for projects has been a challenge for some organisations in recent times. I am pleased that the DP World London Gateway project was able to demonstrate a strong mix of vision and benefits to end users, which went a long way to help secure the financing.”
Dredging Today Staff, April 16, 2012; Image: londongateway