EBRD lends €100 million for Port of Gdansk development

The European Bank for Reconstruction and Development (EBRD) has joined a group of banks that will finance the construction of a third deep-water container terminal in Poland’s Port of Gdansk on the Baltic Sea.

The €100 million EBRD loan is part of a €863.5 million financing package put together by a group of local and international lenders for Polish firm DCT Gdansk and its parent company, Baltic Hub.

The senior loan, based on environmental, social and governance (ESG) key performance indicators (KPIs), will be used to finance the construction of a new Terminal 3 in the Port of Gdansk and to upgrade Terminals 1 and 2 and other facilities.

Terminal 3 will add 717 metres of deep-water quay and 36 hectares of yard area and be equipped in the first phase with 7 energy-efficient ship-to-shore cranes and 20 semi-automated rail-mounted gantry cranes.

The first ships are expected to be received in Terminal 3 by the end of 2024, with full completion scheduled for 2025.

Also, the first stage of the expansion aims to add 1.5 million TEUs of capacity, up from the current 2.9 million TEUs, increasing the port’s total handling capacity by nearly 50 percent by 2025.