Financing secured for PortMiami Cruise terminal PPP project in Miami
MSC Cruises has secured EUR350 million (US$369.7 million) financing for the development of PortMiami Cruise terminal in Miami, USA.
The financing was provided by Intesa Sanpaolo S.p.A and Cassa Depositi e Prestiti S.p.A. and was guaranteed by SACE with a contribution from SIMEST. This financing allows the Cruise Division of MSC Group to contract Fincantieri Infrastructure, through its US subsidiary, Fincantieri Infrastructure Florida to build and supply a multistorey cruise terminal and associated infrastructure at PortMiami.
The project is expected to be completed in December 2023. In addition to the new terminal, with the capacity to process about 36,000 passengers daily, the financing will provide for the construction of three berth docks capable of hosting large cruise ships, as well as the construction of a multilevel garage and a new road. Clifford Chance acted as legal adviser to the lender in the financing transaction.
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