DP World’s London Gateway project has been awarded the coveted ‘Global Deal of the Year’ for 2011 at the Infrastructure Journal Awards, last night.
The award recognises the delivery of outstanding infrastructure projects and is recognition of the deep-sea container port’s successful project financing, which was fully secured in December last year.
The London Gateway, a US$2.38 billion development which comprises a new deep-sea port and a state-of-the-art logistics park, will help increase the city’s ability to handle large container ships and provide better access to London from the rest of Britain.
The award was collected by Sarmad Qureshi, director of finance for DP World’s Europe and Russia region. “This award is further endorsement of the London Gateway project. It sends a clear message to our customers that this is a globally significant development which has secured world class financial backing,” he said.
“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. No mean feat, given the economic climate we operate in.
“We are very 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 CO2 and other transport emissions.”
The successful London Gateway team was accompanied by representatives from Allen & Overy, Royal Bank of Scotland and Société Générale, who all played key roles in advising and financing the project.