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DP World investing $414.9m in fourth berth at London Gateway

Photo: DP World DPW_London Gateway_4th Berth_140921.jpg.png
DP World is investing GBP300m ($414.9m) in a fourth berth at its London Gateway facility in the UK.

Construction is set to start next month on the fourth berth, which increase the port’s capacity by a third when it comes onstream, and is designed to handle the world’s largest container vessels of 23,000 – 24,000 teu.

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.”

In the first half of 2021 London Gateway handled 888,000 teu, some 23% higher than its previous best first half performance.

“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.”

The Port of Tilbury, Ford’s Dagenham plant, and DP World London Gateway will form Thames Freeport, which is being commercially launched today by Rt Hon Rishi Sunak MP, Chancellor of the Exchequer.

The Chancellor said: “Our new freeports will create national hubs of trade, innovation and commerce, and attract more investment to regenerate communities and level up the UK.

“Bringing ports and business together to invest in their regions is crucial to the Freeports success story – that’s why I’m thrilled that DP World is investing £300 million to support Thames Freeport – creating new opportunities, boosting growth and supporting local jobs.”

 

 

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