Friday , 23 August 2019
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Infranode invests in new container terminal at Port of Gävle

Infranode has invested SEK 400m (US$42.2m) in the development of a new container terminal in the Port of Gävle and become a minority shareholder in Yilport Sweden Terminal Investment AB (YST).

Through this investment, the Swedish company has become a partner and co-owner of Yilport’s Swedish operations in Gävle and the Stockholm Nord intermodal terminal.

Fredrik Svanbom, CEO of port authority Gävle Hamn AB, said: “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.”

The Port of Gävle is Sweden’s third largest container port and the largest on the east coast and due to significant growth over an extended period of time, throughput is approaching 300,000 teu.

The increasing demand for container transport is the reason for the development of a new terminal which will effectively double the port’s size.

Upon completion of the facility in 2020, the Port of Gävle will have the capacity to handle larger vessels and an annual volume of up to 600,000 teu.

YST and its subsidiaries hold a concession agreement to operate and develop the port until 2046 with the option for a 10-year extension.

Christian Doglia, CEO and founding partner at Infranode, said: “We are very pleased with this investment into an essential Nordic port infrastructure asset.

“Our investors, such as the European Investment Bank (EIB) and Swedish pension and insurance companies, are delighted to be part of the development and supporting such a strategically important transport hub.”