VSBW, the joint venture between Boskalis Westminster and VolkerStevin, has been appointed as the main contractor for the marine civil engineering stage of the Port of Dover’s flagship Dover Western Docks Revival (DWDR) development.
The Port of Dover has awarded the £115 million marine structures and bridge contract of the flagship development to VSBW, which represents a substantial part of the single biggest investment ever undertaken by the Port.
The project will deliver long-term capacity for a key international gateway handling trade to the value of £119 billion representing up to 17% of UK trade in goods.
The first stage includes the design and construction of two new berths including quay walls and land reclamation as well as a new marina pier, the marina curve, navigation channel and new lock gates, bascule bridge and capital dredging work. The major phase of the construction programme is scheduled to be completed at the end of 2018.
Boskalis Westminster will undertake the dredging and land reclamation, with the compaction work by sister company Cofra.
Equipment from the Boskalis fleet will include small, medium and large trailing suction hopper dredgers and a medium size backhoe.
A consortium of leading British and European lenders has agreed a £200 million package of loans to support the flagship capital building programme.
Allianz Global Investors has agreed to provide the programme with a £55 million private placement bond; RBS and Lloyds Bank have each provided a £35 million revolving credit facility; and the European Investment Bank has confirmed a £75 million loan.
Port of Dover Chief Executive, Tim Waggott, said:
“Dover Western Docks Revival is the single biggest investment ever undertaken by the Port of Dover. It will define how we operate for decades to come."
“Currently handling 17 per cent of all the UK’s trade in goods, it is crucial the Port continues to evolve to meet the demands of an ever-changing political and trading landscape."
“The financial support supplied by blue chip lenders underlines the critical role Dover fulfils for UK and European economies, businesses and consumers. A prominent role which will remain into the future post Brexit.”
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