GB£300m port investment
One of London’s ports is set to benefit from GB£300m investment.
In October, DP World will begin work on a new fourth berth at its London Gateway logistics hub to increase supply chain resilience and create more capacity for the world’s largest vessels.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “I am delighted to announce that we will go ahead with our latest major investment in the UK, which will give London Gateway more capacity to handle the world’s largest vessels than any other port in the country.
“As a central pillar of Thames Freeport, London Gateway’s new fourth berth will allow even more customers to benefit from world class ports and logistics, with unrivalled global connectivity, on the doorstep of Europe’s largest consumer market. DP World plans to be at the heart of Britain’s trading future and this investment shows that we have the ambition and the resources to boost growth, support businesses, create jobs and improve living standards.”
Record H1 2021 throughput
In the first six months of 2021 London Gateway saw record throughput of 888,000 TEU, a more than 23% increase on the previous best performance for the first half of a year. The new fourth berth will raise capacity by a third and completion will coincide with the delivery of a new wave of 24,000 TEU vessels in 2023/2024, which will all be operated between Asia and Europe.
The Port of Tilbury, Ford’s Dagenham plant and DP World London Gateway will form Thames Freeport after being awarded freeport status by the Government earlier this year, with the partners currently progressing the business case with a view to receiving formal accreditation. DP World Southampton has also been awarded freeport status as part of Solent Freeport.
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