Brussels, 11/07/2008 (Agence Europe) - The Netherlands is to benefit from up to €500 million in European Investment Bank (EIB) loans to expand and modernise its natural gas transmission network. An initial contract for €375 million has been signed with N.V. Nederlandse Gasunie and a further tranche of €125 million could follow at the end of 2008 or early 2009. The loans will part-finance a €1.1 bn project to maintain the Netherlands' position as one of Europe's major gas hubs through the laying of approximately 300 km of new pipelines and associated infrastructure. Most of the new pipelines will be located along one of the European Union's priority trans-European energy networks (TEN-e). “This substantial investment in the Netherlands demonstrates the Bank's commitment to securing future EU energy needs,” said EIB President Philippe Maystadt. (O.L.)