Mott MacDonald was lender’s technical advisor to the Keersluis Limmel Company on the new Limmel Lock project.
The new barrage lock will replace the existing lock, which is nearly 100 years old, and offer access to the Juliana Canal, an key route between Limmel and Maasbracht. The canal is being broadened and deepened to enable larger barges to use the route in the future.
Mott MacDonald provided due diligence and technical reports to support financial close and will now monitor construction in an ongoing role to help the project stay on programme and budget.
Hidde Siemonsma, financial manager at Keersluis Limmel Company, said: “Mott MacDonald did an excellent job of informing the lenders on the risk profile of the project.” The work was particularly challenging as the contractual project finance framework, including an amended design, build, finance and maintain agreement, was tested for the first time on this project. “As a result, we were comfortable that the lenders had a thorough understanding of the project and did not see major obstacles providing the debt financing.”
The new Limmel Lock is expected to be complete in 2018 and a 30-year maintenance period will follow.
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