Infranode Invests in the Development of the Port of Gävle
Infranode invests SEK 400 million in the development of a new greenfield container terminal in the Port of Gävle and at the same time becomes a minority shareholder in the port operator YILPORT Sweden Terminal Investment AB ("YST"). With this investment Infranode becomes a partner and co-owner of YILPORT Holding's Swedish operations in Gävle and the Stockholm Nord intermodal terminal. The proceeds will be used for the expansion of a new container terminal in Gävle to meet the significant growth in demand for container transports.
“We are very pleased with this investment into an essential Nordic port infrastructure asset. Our investors, such as EIB and Swedish pension and insurance companies, are delighted to be part of the development and supporting such a strategically important transport hub. Infranode enters into a long-term partnership with both the port authority and YILPORT Holding, which is an established operator of ports globally with extensive experience and a strong local organization” says Christian Doglia, CEO and Founding Partner at Infranode.
“The Port of Gävle is one of the most important hubs for Swedish exports and the growing import market linked to YILPORT’s Stockholm Nord Intermodal Terminal. As such it feels fantastic that Infranode have shown their confidence in YILPORT as a Global Container Terminal operator” says Robert Yuksel YILDIRIM, Chairman and Owner of YILPORT Holding and YILDIRIM Group.
Port of Gävle is Sweden's third largest container port and the largest on the east coast. The port has experienced significant growth for an extended period of time, and is approaching 300,000 TEU. In order to cater for the increasing demand for container transport, the container terminal is now in the process of doubling in size.
“Together with YST, we are now doubling the capacity of the largest container terminal on the Swedish east coast. The Port Authority, Gävle Hamn AB, is focusing on developing the port in Gävle. Infranode’s investment proves that the model we have chosen to facilitate infrastructure development is working well in supporting the region’s core port users’ growth. It is an endorsement of the successful investments made so far and a confirmation that the Port of Gävle is developing in the right direction,” says Fredrik Svanbom, CEO of Gävle Hamn AB.
Upon completion of the new container terminal in 2020, Port of Gävle will have the capacity to handle port calls from larger vessels with an annual volume of up to 600,000 TEU. YST and its subsidiaries hold a concession agreement with municipality-owned port authority to operate and develop the port until 2046 with a 10-year extension option.
“For Folksam, as a mutual insurance and pension company and for KPA, as the pension fund for municipal and county employees, it is gratifying to be able to participate, through Infranode, in an infrastructure investment that is good for both the municipality and for the port of Gävle and also very important for the whole of Sweden” says Michael Kjeller, Head of Asset Management and Sustainability at Folksam.
“Many of Sweden’s infrastructure projects are relatively small, making it challenging for the European Investment Bank (EIB) to directly support them. It is thanks to Infranode acting as
local intermediary that we can lend our financial support here and improve people’s lives. That’s why we are very pleased about Infranode’s investment decision to support the upgrade of the strategically important Port of Gävle. This will surely boost growth and create jobs in the region,” said European Investment Bank (EIB) Vice-President Alexander Stubb.
Advisors to Infranode were DNB Markets (financial), Roschier (legal), Ramboll (technical and commercial) and PwC (financial DD and tax).
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