Norton Rose Fulbright has advised the construction consortium of Lock to Twente, Netherlands, on contractual and financial aspects of the DBFM contract for Sluis Eefde Project. The project finance agreement was completed 9 February 2017.

This agreement was the final step in the procurement process. In December 2016 Rijkswaterstaat and Lock to Twente signed the DBFM contract for the renovation and expansion of the Eefde lock in Twente, Netherlands. The project aims to increase the capacity of the Eefde lock. The current lock will be renovated and a second new lock will be constructed.

The consortium Lock to Twente (indirectly) consisting of PMF Infrastructure Fund and TBI Holdings, will execute the project by way of a DBFM contract (Design, Build, Finance and Maintain). Lock to Twente is responsible for the design, build and renovation of the project, as well as the financing and maintenance. TBI companies Croonwolter&dros and Mobilis have been appointed to oversee the completion of the project. It is expected that of the actual construction of the second lock will start in 2018. It’s expected that by mid-2020 the first ships will navigate through the new lock.

The Norton Rose Fulbright team was led by partners Daphne Broerse and Wouter Hertzberger, and supported by associates Ania Gorna, Annemarie Creutzberg and Joep Duinker who advised Lock to Twente on the DBFM agreement, contractual agreements with subcontractors, and the overall financing of the project.