KfW IPEX-Bank financing leading-edge environment-friendly German-made technology for terminal operation in Long Beach California

KfW IPEX-Bank is financing the equipment manufactured by Düsseldorf-based Terex Port Solutions (TPS), including 72 environment-friendly battery-powered automated guided vehicles (AGVs) and Battery Exchange Station, for the Long Beach Container Terminal (LBCT) in California.

Valued over USD 81 million, the finance contracts were signed today in Hong Kong, where the port operator Orient Overseas Container Line (OOCL) has its head offices. “With this finance for leading-edge German-made “green” technology for the Long Beach Container Terminal, we are assisting a German port equipment producer in the key US growth market for the first time,” says Christian Murach, a member of the Management Board of KfW IPEX-Bank.

One of the world's largest ports and the winner of multiple awards in recognition of its commitment to environmental concerns, the Long Beach “Green Port” is currently combining two aged container terminals to form a new single modern technologically advanced and environmentally friendly terminal with a final capacity of 3.3 million TEU.

The AGVs form part of the mobile equipment for the suprastructure which which LBCT is fitting the new terminal. For this purpose, the shipping group has ordered a turn-key package of 72 environment-friendly battery-powered AGVs, a battery exchange station and fleet management system for the AGVs that would work alongside the quay and automated storage cranes.

The AGVs will be used for transporting containers from the edge of the quay to the storage areas. With a capacity of 70 tons each, they are able to transport 20', 40' and 45' containers from the ship-to-shore cranes to the stacker cranes. They are particularly suitable for use in California, which is known for its strict environmental legislation.

About KfW IPEX-Bank GmbH

Within the KfW Group, KfW IPEX-Bank is responsible for international project and export finance. Its function of providing financing to boost the German and European economy is derived from the legal mandate assigned to KfW. It offers medium- and long-term financing to support key export industries, to develop economic and social infrastructure and to fund environmental and climate protection projects. KfW IPEX-Bank operates as a legally independent group subsidiary and plays a major role in fulfilling KfW's promotional mission. It is represented in the most important economic and financial centres across the globe.

Contact:

KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Press Office: Dela Strumpf, E-Mail: dela.strumpf@kfw.de
Phone: 069 7431 2984, Fax: 069 7431-9409, 
E-Mail: info@kfw-ipex-bank.de, 
Internet: www.kfw-ipex-bank.de