José Pycke already works twenty years for Jan De Nul and is responsible for the workshop in Aalst. The workshop has 70 employees, spread over several departments, almost half are welders but we also have plenty of machine operators, electricians…Read more
A project such as in Takoradi is very capital-intensive. Governments may well have the vision to expand their ports, often their budgets are inadequate. Mathias Van De Vijver, Financial Manager, explains how Jan De Nul can still realise these projects by providing funds itself. To execute the project in Takoradi, a total sum of 357 million Euro was needed. For financing such amounts of money, Jan De Nul must often engage a consortium of banks with the lead bank structuring the credit. All credit documentation must be drawn up by an independent party appointed by the bank consortium. These banks can offer favourable financing conditions because together they would ultimately bear only 2 to 5% of the risk of default. The remaining 98 to 95% of the risk is borne by the state through its credit insurer Credendo. The insurance premium is usually co-financed by the banks, with these arrangements in place, Jan De Nul is sure that it will be paid for its works.
Mathias Van De Vijver: “Everyone gains from this approach: Ghana Ports Authority can have its port modernised and borrow at favourable European rates with banks are backed by Credendo; local market interests would be 2 to 3 times higher. We can rest assured that we will be paid for the work that we deliver.”
“We also observe an increasing trend towards project financing schedules in which also the contractor is asked to bring in part of its own capital. Such project financing arrangements are becoming increasingly complex but also enable us to offer big, integrated projects, win new orders and face the increasing competition worldwide.”
The total quay wall height is up to 20.7 metres, with at low tide 3.2 metre above and 17.5 metre below water. It is built of 4,000 concrete blocks each of 50 tonnes, all made on site. When stacking the concrete blocks, these are aligned alternately.…Read more
The project in Takoradi started in 2012; today, it is almost 90% complete. Filip Morobé, Area Director Africa: “What makes this project special, is that there has been no call for tenders. The Ghana Ports and Harbour Authority (GPHA) has…Read more
Apart from wood, Takoradi mainly exports cocoa, bauxite and magnesium. The port is also the central pivot for all supplies to Jubilee Field, a huge offshore oil field west of Takoradi. Another part of the cargo entering the port is intended for countries…Read more