Jan De Nul Wins First Lock Construction Contract in The Netherlands
- Business & Finance
Jan De Nul has just announced that Sas van Vreeswijk (SPC) achieved financial close of the PPS project ‘Construction 3rd lock chamber Princess Beatrix Lock and widening Lek Canal’.
Sas van Vreeswijk consists of TDP NV (in partnership with investment companies TINC and DG Infra Yield), BESIX Group NV, RebelValley B.V., Heijmans Nederland B.V. and Jan De Nul NV.
The financial close is a key milestone for this project with a net present value of approximately 133 million euro. The project’s financing requirement amounts to approximately 184 million euro.
The shareholder capital is supplemented with loans from BNG Bank, DekaBank and KBC Bank. BNG Bank also serves as the agent of the lenders.
The DBFM contract was signed by Rijkswaterstaat (the Directorate-General of Public Works and Water Management) and Sas van Vreeswijk on 15 January 2016.
Third Lock Chamber
Rijkswaterstaat aims to improve passage for barges through the Lek Canal near Nieuwegein and to reduce waiting times at the Beatrix Lock.
The project includes the construction of a third lock chamber, the renovation of the existing two lock chambers, the widening of the Lek Canal and the construction of lock approaches and berths in the canal.
The Lek Canal, which incorporates the Princess Beatrix Lock, connects the Amsterdam Rhine Canal to the Lek River, and is an important waterway between the ports of Rotterdam and Amsterdam.
The completion of the construction works is anticipated by 2019, when the 27-year maintenance period will start.