DPW still committed to London Gateway
The London Gateway's port construction site got a visit from Prime Minister Gordon Brown and Business Secretary Lord Mandelson in January as work started on the project. The Prime Minister called the London Gateway "a significant foreign investment" and "a massive vote of confidence in the UK's economic recovery."
According to an independent survey commissioned by DP World, the development will generate 36,000 jobs in total, including 12,000 jobs in logistics and construction that will be created in the short term.
A collective breath was recently released as DP World stated its commitment to the £1.5 billion development of what is to be Europe's largest combined deep-sea port and logistics park.
The company, who has been plagued by the difficulties surrounding its parent, Dubai World, earlier said in a statement to the Dubai stock exchange that, "The board of DP World has reviewed a number of options for the London Gateway project in light of the current market downturn and is pleased to announce it has decided to proceed with construction of essential infrastructure that lays the foundation of the facility."
However, on a definite note of caution, the company has also said that it will continue to monitor the situation and that it "will continue to review the development of the port and park operations in line with market demand."
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