PFA, Denmark’s largest pension fund, has partnered with industrial ports operator ADP to develop a second dry port in the country, following their initial 2017 joint venture that created the Taulov Dry Port in eastern Jutland.
The pair have entered into a development agreement for the Fyn Dry Port in Middelfart Municipality, on the island of Funen. The project will feature up to 300,000sqm of warehouse and logistics space, with construction expected to begin in 2029.
The original Taulov Dry Port development in Fredericia currently comprises more than 300,000sqm of logistics assets, with a further 220,000sqm under development.
Peter Morgan, head of real estate at PFA, said: “The ambition to create the basis for the development of a dry port in Middelfart is a natural continuation of the success we are experiencing in Taulov, which has contributed positively to the local area around Fredericia and at the same time has been a good investment for PFA’s customers.”
“ADP is in a strong position because we have followed a clear strategic direction for several years,” added Christian Herskind, chairman of the board of the company’s board. “The results show that it works, and therefore we continue the development to ensure long-term growth and value creation. Dry ports play a key role here.
“The experience from Taulov shows that together with good partners, we can create attractive solutions with great value for both customers, municipalities and society. Therefore, the development in Middelfart fits naturally into ADP’s long-term strategy and ambitions for the future.”
Rune D Rasmussen, CEO of ADP, said: “ADP is constantly evolving, and it requires an extra effort for both owners, the board, the executive board and all the employees in ADP. We have built up a strong organization that maintains and develops operations, but the organisation is also able to handle major development tasks.
“Therefore, we are also pleased that we, together with PFA, have entered into a development agreement with the ambition of establishing a dry port on Funen, where we experience that there is a great interest from the business community.”
Anders Møllegård, mayor of Middelfart Municipality, said: “Fyn Dry Port is a unique opportunity to create a powerhouse for business development in Middelfart that supports an already strong business community.
“With the development agreement for a dry port, we are taking a big step towards attracting new companies, investments and jobs to Middelfart Municipality.”
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