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Ostend buys up REBO terminal

DEME has decided to sell its 30 percent stake in the Renewable Energy Base Ostend (REBO) terminal in Belgium.

The REBO terminal operates a heavy lift quay that specialises in the storage, pre-assembly and shipping of wind turbine components.

In 2010, the port of Ostend raised external capital for transforming the port into a hub for offshore wind energy logistics in the southern part of the North Sea. DEME, together with PMV and Artes-Group, established the REBO terminal for this purpose.

DEME said: “The REBO terminal has matured considerably over the last ten years. So much that it now boasts a stable balance sheet and no longer requires the resources and expertise of its initial investors, who have been present from the outset.  After a risky start-up phase and a high need for capital and expertise, the port of Ostend now wishes to focus on expanding operations at this terminal.”

The port is in the process of acquiring shares from all other investors in the terminal.

www.deme-group.com

www.portofoostende.be

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