OpenIJ successfully renegotiates financing schedule with banking syndicate
IJmuiden, the Netherlands, 21 February 2019 – The OpenIJ consortium finalised the discussion with its banking syndicate regarding the rescheduling of the financing for the construction of the world’s largest sea lock. OpenIJ can resume drawing from its banking facilities in line with the agreed new schedule with immediate effect.
OpenIJ had to renegotiate the financing schedule with the banking syndicate after the announced delays of the construction of the sea lock. In the meantime the partners of the OpenIJ consortium (VolkerWessels and BAM) financed the project from their own resources.
OpenIJ is the partnership between VolkerWessels and BAM to construct the new sea lock in IJmuiden.