On February 9, 2017, the Lock to Twente (L2T) consortium successfully reached financial close on the Eefde Lock PPP in The Netherlands.
Having received the green light for their design, build, financing, operation and maintenance of the second lock on the Twente Canal, L2T are set to start construction with a view to commencing the operations phase in 2020. Lenders Dekabank and Nord LB provided funding for the project and the consortium’s financial advisors were KPMG Belgium.
In addition to the constructing the new Eefde lock, the project includes the construction and maintenance of a bridge over the lock, the redesign and maintenance of the area north of the lock, the refurbishment of the existing lock and construction of the road between the original lock bridge and the new lock.
On behalf of the L2T consortium, Operis was delighted to perform an audit of the financial model, including a review of the model’s tax and accounting treatments.
