KfW IPEX-Bank participates in PPP financing for sea lock IJmuiden near Amsterdam

Frankfurt am Main (ots) -

- New construction of the sea lock at the entry to the port of
Amsterdam
- Major European infrastructure project
- Bank club: KfW IPEX-Bank participates in financing together with
six other banks in a public-private partnership (PPP)

KfW IPEX-Bank in cooperation with five other commercial banks and
the European Investment Bank is financing the construction and
maintenance of a new sea lock in IJmuiden/Netherlands. The new lock
is to replace the "Noordersluis", which since its erection in 1929
provides ocean-going vessels access from the North Sea via the North
Sea Canal to the port of Amsterdam, which itself is not located at
the coast. The formerly biggest lock in the world is now
technologically outdated and too small to accommodate increasingly
larger ships.

As part of a complex PPP financing structure, the banks including
KfW IPEX-Bank are together providing funds of around EUR 500 million
for the flagship project. Given a concession period of 30 years (4
years construction period and 26 years maintenance), the loans will
be repaid during the 26-year operating phase.

The project is part of the Dutch Locks programme and belongs to
the Trans-European Network (TEN), which is supported by the European
Union. When its construction is completed, which is planned for 2019,
the new lock will again be among the world's largest, with a length
of 500 metres, a width of 70 metres and a depth of 18 metres.

"We are pleased to be able to contribute to financing this
impressive project," Christian K. Murach, member of the Management
Board of KfW IPEX-Bank, commented on the transaction. "In contrast to
Germany, PPP is a frequent and successful financing option with a
proven track record for major public infrastructure projects in the
Netherlands and also other European countries. This instrument allows
making optimal use of private investor liquidity to renew and expand
public infrastructure."

With its financing commitment, KfW IPEX-Bank is supporting a
consortium comprising the two Dutch construction companies Royal BAM
Group and Volker Wessels as well as financial investors DIF and PGGM,
which won the international bidding procedure, commissioned by
Rijkswaterstaat, the Dutch waterway and road authority.

Supporting PPP projects aimed at the expansion and maintenance of
social and economic infrastructure in Germany and Europe is part of
KfW IPEX-Bank's core business. KfW IPEX-Bank financed numerous PPP
projects over the past years that were realised in Germany as well as
in other European countries such as France, the UK and the
Netherlands.

About KfW IPEX-Bank GmbH

Within the KfW Group, KfW IPEX-Bank is responsible for
international project and export finance. Its function of providing
financing to boost the German and European economy is derived from
the legal mandate assigned to KfW. It offers medium- and long-term
financing to support key export industries, to develop economic and
social infrastructure and to fund environmental and climate
protection projects. KfW IPEX-Bank operates as a legally independent
group subsidiary and plays a major role in fulfilling KfW's
promotional mission. It is represented in the most important economic
and financial centres across the globe.

Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: dela.strumpf@kfw.de
Tel. +49 (0)69 7431 2984, Fax: 069 7431-9409, E-Mail:
dela.strumpf@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de