HCOB finances modern fuel and ethanol tank farm for GPS Group in the port of Amsterdam
Hamburg/Amsterdam, November 23, 2020 - Hamburg Commercial Bank (HCOB) provides project financing to GPS Group, a growing developer and independent operator of fuel and chemical tank facilities, for the port of Amsterdam tank terminal and its further expansion.
The financing amount is in a higher double-digit million Euro range and will be provided in equal shares by the Dutch bank NIBC and the HCOB.
The new state-of-the-art ethanol storage facility will be connected to the existing 17 fuel tanks and will increase the ability to blend and distribute biofuels. Being located in the port of Amsterdam, the world's largest fuel trading and blending hub, the storage and blending facilities will in future be connected to the main railway system of the Netherlands and Europe. The new railway line will be built in 2021. This will promote the sustainability strategy in the port of Amsterdam and support an environmentally friendly transport alternative.
Hamburg Commercial Bank is a reliable financing partner in Germany and other European countries and has brought its comprehensive structuring expertise to this project in its role as Mandated Lead Arranger. "This project is a beacon project for our activities in the infrastructure sector and is also beneficial from an ESG perspective, because it is strengthening the production of biofuels and offering an environmentally friendly logistics concept in the Port of Amsterdam,” said Inka Klinger, Global Head of Infrastructure at HCOB. “All issues relating to the energy transition will be of considerably greater concern to us in the coming years and will gain further importance worldwide.” Hamburg Commercial Bank has been financing infrastructure projects for about two decades and is one of the leading banking partners in this sector.
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