The new sea lock being built in IJmuiden which will improve access to the port of Amsterdam will be delivered well below budget, it was revealed in the Parool on Wednesday.

The lock, which will be the largest in the world when it is completed in 2019, will cost Amsterdam about €60m less than expected, with the city paying only €47m instead of €105m, the paper said.

National government will bear the lion’s share of the costs, put at €565m while Noord-Holland province’s share is €39m, down from the original €57m.

The new lock was made necessary because ships are getting bigger and the current lock needed an upgrade. The new lock will be 70 meters wide by 500 meters long, considerably larger than the present Noordersluis, dating from 1929, which is 400 meters long and 40 meters wide.