UK-based port operator to use funds in development of Liverpool’s new £300 million box terminal
UK-based Peel Ports has successfully completed a £1.6 billion refinancing deal to fund its growth plans, including the new £300 million Liverpool2 container terminal.
The funding has been raised from a variety of banks and private investors and includes £150 million from the European Investment Bank.
“The strong support we have received from banks and investors is testament to their confidence in the future plans of the Peel Ports Group,” said Peel Port’s chief financial officer, Graeme Charnock.
“We have refinanced our existing facilities, and created a diversified and flexible funding platform to support our growth strategy, which includes the development of the Liverpool2 container terminal.”
The new in-river terminal, which will enable some of the world’s largest container vessels to call Liverpool, will be operational in 2015 and promises to generate around 5,000 jobs for the region at the port and in the supply chain.
The new facility will add a further 500,000 TEU to the port’s annual capacity, increasing Liverpool’s total capacity to nearly two million TEU.
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