New company aims to secure billions for port expansion

The Port of Hanstholm is taking an innovative step by establishing a development company to secure the approximately DKK 2 billion that the planned port expansion is expected to cost.

The establishment of the new development company is rooted in the realisation that the port expansion will only be possible with the injection of private capital, says Martin Vestergaard, chairman of the Board of the Port of Hanstholm.

“The development company will hire a director of development who will be charged with exploring the market for private capital. We find it essential that the expansion of the port is separated from day to day operations. We will ensure this separation with the development company,” explains Martin Vestergaard, who adds that development companies are a well-establish model in connection with major projects.

“But of course, we will establish a solution tailored to the specific situation,” he says.

The model will be finalised during the first quarter of 2015
The model for the development company is expected to be in place during the first quarter of 2015, while the partner or partners are expected to be found during the course of 2015.

“It is crucial to us that external investors can contribute more than just capital. The best solution requires that the investors can also contribute knowledge to the project, thus linking investment and business together,” says Martin Vestergaard.´