London: DP World today signed a £400 million contract to build the first phase of a new £1.5bn port at London Gateway to a joint venture between Laing O'Rourke and Dredging International. The contract, signed by London Gateway ceo Simon Moore (centre), Laing O'Rourke coo Tony Douglas (left) and Dredging International ceo Alain Bernard (right), will see the construction of the first phase of the project involving 1.2 kilometres of quay and large three berths over five years.
"This contract is a major milestone in constructing the port," said Moore. "London Gateway is vitally important for today's UK economy. It will deliver the most efficient and technologically advanced port in the world and much needed deep sea capacity for the UK."
Upon completion the next 10 to 15 years, the 3.5m teu automated London Gateway project is expected to drastically change the logistics structure in the UK as consumer goods will be able to be transported to markets in and around London without having to transit through inland distribution centres. DP World has set a target of transporting 30% of all traffic through the port by rail and estimates that the move will eliminate the need for 2,000 trucks from the UK's highways every day, thereby, reducing congestion, saving time, fuel and curbing carbon emissions.
Construction work will begin later this year at the 1,500 acre site, just 25 miles from central London on the former Shell Haven oil refinery at Stanford-le-Hope near Thurrock, South Essex. The logistics park, which will offer 9.5m sq feet, is due to open in the latter half of 2010, with the first ships arriving in early 2011. [20/08/08]
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