The infrastructure investor, having €450m of capital under its management, will put in around €38m (SEK400m) into the development of the Port of Gävle.
The company will also become a minority shareholder in YILPORT Sweden Terminal Investment (YST), a stevedore with the concession to operate and develop the Gävle port till 2046 (the agreement includes a 10 year-long extension option) as well as owner of the Stockholm Nord intermodal terminal.
Infranode and YST will work together on doubling the latter’s container terminal's handling capacity up to 600k TEUs/year by 2020.
"We are very pleased with this investment into an essential Nordic port infrastructure asset. Our investors, such as EIB [European Investment Bank] and Swedish pension and insurance companies, are delighted to be part of the development and supporting such a strategically important transport hub," Christian Doglia, CEO and Founding Partner, Infranode, commented.
Robert Yuksel Yildirim, Chairman and Owner of YILPORT Holding and YILDIRIM Group (YST's parent companies), added, "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."
"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," Fredrik Svanbom, CEO, Gävle Hamn AB (the port authority), also said.
Alexander Stubb, Vice-President, EIB, underlined, "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."
"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," Michael Kjeller, Head of Asset Management and Sustainability, Folksam, summed up.
Photo: Port of Gävle