European Transport Deal of the Year Goes to DP World London Gateway

London Gateway, UK:- DP World London Gateway has won European Transport Deal of the Year at Project Finance International’s annual awards ceremony in London.

The DP World finance and London Gateway teams, along with its advisors, worked with several international banks to achieve project finance closure in Q4 2011. By securing significant bank funding in a ‘risk averse’ environment, London Gateway has shown it has the credentials to become a world class trading hub when it opens next year.

Simon Brooks, European Investment Bank Vice President for the UK said: “This prestigious award recognises both the hard work of all involved in completing the London Gateway deal and acknowledges the challenge of finalising funding at a time of considerable financial uncertainty for what will be one of the United Kingdom’s most important private sector transport projects.”

Simon Moore, CEO London Gateway said: “Achieving this recognition is excellent news for DP World London Gateway. We are very pleased to have many respected institutions demonstrating a powerful vote of confidence in London Gateway’s value proposition. It’s great to see the world’s leading financiers recognise that importers and exporters will soon start making supply chain savings in 2013 by choosing London Gateway.”

Matthew Vickerstaff, Global Head of Infrastructure and Asset-Based Finance at Societe Generale said: “We are delighted to support one of the UK’s most important infrastructure projects, which will provide the deep water capacity required to keep the UK competitive in the global market.”

Sarmad Qureshi, Director of Finance at DP World Europe & Russia Region said: “We are very pleased to receive the award and would like to thank all our partners for their efforts in securing this important finance deal.”

London Gateway will open in Q4 2013 and it is set to become the premier UK logistics hub.  Offering 9.5 million square feet of logistics park space, independent sources predict 65 million road freight miles every year will be saved as supply chains shorten and significant valuable cost savings are achieved.  The world’s biggest ships will soon be able to call right in the heart of the UK’s trading centre.
Rod Morrison, Editor of Project Finance International, said: “The award is a fantastic achievement for DP World and its London Gateway project given the current financial climate.”
Note: Lenders - DnB NOR, European Investment Bank, HSH Nordbank, Investec, KfW, National Australia Bank, Societe Generale, Royal Bank of Scotland, Unicredit and West LB.

 
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About DP World

DP World operates more than 60 terminals across six continents(1), with container handling generating around 80% of its revenue. In addition, the company currently has 11 new developments and major expansions underway in 10 countries.

DP World aims to enhance customers’ supply chain efficiency by effectively managing container, bulk and other terminal cargo. Its dedicated, experienced and professional team of nearly 30,000 people serves customers in some of the most dynamic economies in the world.

The company constantly invests in terminal infrastructure, facilities and people,
working closely with customers and business partners to provide quality services
today and tomorrow, when and where customers need them.

In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted “Best Seaport in the Middle East” for 17 consecutive years.

In 2010, DP World handled nearly 50 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 100 million TEU by 2020, in line with market demand.

www.dpworld.com

(1) As of December 2011. Includes non-container terminals