DP World's London Gateway honoured with prestigious global finance award
2012 04 21
- Details
DP WORLD's London Gateway project has been awarded the coveted Global Deal of the Year for 2011 at the Infrastructure Journal Awards, the company announced.
The award recognises the delivery of outstanding infrastructure projects and is in recognition of the deep-sea container port's successful project financing, which was fully secured in December last year.
Said DP World European chief Sarmad Qureshi: "This sends a clear message to our customers that this is a globally significant development which has secured world class financial backing. Securing this deal has allowed construction to forge ahead and I am delighted that we were able to close on what has been recognised as the best infrastructure project deal in all sectors.
"We are confident that London Gateway will be able to deliver substantial supply chain cost savings to global shippers. Thanks to our closer location to key UK markets we will also be able to help customers move their goods in a greener, more efficient way, reducing carbon dioxide and other transport emissions," said Mr Qureshi.
The successful London Gateway team was accompanied by representatives from Allen & Overy, Royal Bank of Scotland (RBS) and Societe Generale, who played roles in advising and financing the project.
Said RBS infrastructure chief Kevin Maddick: "Working with our partners on the team, we were all impressed by the vision of the project and this award vindicates our confidence in financing its development."
Said Pallen & Overy partner Conrad Andersen: "This award is testament to the hard work and dedication of everyone involved in making the project a success and ensuring the financing was put in place quickly and efficiently was an important part of that."
Said Societe Generale infrastructure chief Charles Greenfield: "Securing top quality funding has been a challenge in recent times. I am pleased DP World London Gateway was able to demonstrate a strong mix of vision and benefits to end users, which went a long way to help secure the financing."
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