UAE port operator DP World will invest £1 billion (US$1.3 billion) for the expansion of London Gateway to make it Britain’s largest container port within five years.
DP World will increase the capacity of London Gateway’s port by building two new shipping berths, taking the total to six berths able to receive large container vessels. The site will also see a second rail terminal added to handle the expected increase in containerised trade.
By the end of the decade, the full quayside stretching more than 2.5 kilometres in length will be able to simultaneously receive six vessels, each more than 400 metres long, and boast some of the tallest quay cranes in Europe.
The expansion will take the total invested by DP World at London Gateway to more than £3 billion (US$3.9 billion), converting the site of a former oil refinery into one of the largest important logistics hubs in the UK. The site has most recently seen the addition of a £350 million (US$460 million) fourth berth, the first to be powered entirely by electricity, and which will soon accept its first ship.
The expansion is subject to planning approval and regulatory requirements. DP World expects the expansion will significantly increase the volume of trade at the port, which currently handles approximately nearly two million TEUs annually.