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David Pollock

Another $1bn for London Gateway

Dubai Ports operator DP World has revealed it is to invest another $1bn (£640 million) in its London Gateway project.

The world’s third-largest ports operator also announced that the development should be up and running by the fourth quarter of 2013.

It said that that the port will have an initial capacity of 1.6 million twenty-foot equivalent units.

DP World explained that 700 new construction jobs and 300 new port jobs are to be created in the coming months and that some 36,000 positions will be created in the long term, providing around £3.2bn to the UK economy each year.

Business secretary Vince Cable said that when London Gateway opens it will transform the UK’s maritime port infrastructure and help grow Britain’s economy.

He added, “It will help Britain to maintain its competitiveness, drive productivity and crucially strengthen our links with Asia and beyond.

"The importance of this project cannot be overestimated. The announcement of these 1,000 new jobs is a welcome boost to the UK.”

It is estimated that 55 million road freight miles will be saved every year when the new port and park facility opens in 2013, as many goods will no longer need to be transported from deep sea ports to inland distribution centres.

Instead, goods will be sent straight into the new London Gateway Logistics Park and then directly to shops and homes.

Mohammed Sharaf, chief executive of DP World, remarked, “London Gateway is a giant leap forward for the UK’s supply chains and will benefit our customers tremendously through more efficient transportation of goods; it will also support wider UK business and economic growth.

“London Gateway will provide the world class service that our customers have come to expect from DP World across the globe, using the most advanced equipment and technology.

“Its location is unique, bringing the world’s largest ships directly to Europe’s largest logistics park, providing long-term value for our customers and UK business.”

By Kirsty Hewitt

Another $1bn for London Gateway
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