Feature, Freight News, Sea

Banks underwrite Dover revival scheme

[ January 30, 2017   //   ]

A consortium of lenders has agreed a £200m package to support the Port of Dover’s Western Docks Revival project including a purpose-built cargo and logistics facility.

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.

The Dover Western Docks Revival scheme will also allow the port to create a dedicated ferry terminal in the Eastern Docks and transform the town waterfront.