Schiphol Gets European Investment Bank Loan

July 28, 2010

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Amsterdam airport operator Schiphol said on Wednesday it has been granted a loan by the European Investment Bank but declined to confirm reports about its size or purpose.

Dutch business daily Het Financieele Dagblad said Schiphol Group, which is majority owned by the Dutch state, would get a loan worth EUR€350 million (USD$454.7 million) to improve the luggage handling system in Amsterdam, Europe's fifth-largest passenger airport.

A Schiphol spokeswoman confirmed the receipt of the loan but declined to elaborate. She also declined to comment on the newspaper's report that the company's total investment would be nearly EUR€850 million.

Schiphol Group, which holds stakes in Brisbane airport and in Terminal 4 of New York's John F. Kennedy airport, will give more details on Thursday, the spokeswoman said.

The EIB is the long-term lending bank of the European Union, set up to promote economic development and integration among EU member states and EU partner countries.

(Reuters)