Dutch-based Rijkswaterstaat and the OpenIJ consortium have reached a financial agreement for the design, construction, finance and maintenance of a new sea lock at IJmuiden, Netherlands.

The OpenIJ consortium consists of BAM-PGGM, VolkerWessels and DIF. The contract value is approximately €500 million.

The new IJmond sea entrance is part of Rijkswaterstaat’s Locks Programme, which is co-funded by the trans-European transport network (TEN-T) programme of the European Union, according to BAM.

The project began taking shape in July when the consortium was confirmed, and work will begin in early 2016 with the new lock available for shipping in 2019.

The new lock will be 70m wide, 500m long and 18m deep.

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