Dubai-based DP World has announced a $300 million investment at its London Gateway logistics hub to increase supply chain resilience and create more capacity in the UK facility.
It builds on the $2bn investment DP World has made in Britain over the last decade, with work set to begin on the new fourth berth next month.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “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.
After the successful launch of @ThamesFreeport, our Chairman and CEO @ssulayem joined by @RishiSunak and @grantshapps has announced the development of a fourth berth at London Gateway as part of our £300m investment in the UK’s most integrated logistics hub. pic.twitter.com/VTATWeP60A
— DP World (@DP_World) September 15, 2021
“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.”
In the first six months of 2021, London Gateway saw record throughput of 888,000 TEU, a more than 23 percent 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.
Rishi Sunak, UK Chancellor of the Exchequer, said: “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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