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DP World announced today that it will begin construction of a new fourth berth at its London Gateway Logistics Center next month to increase the resilience of the supply chain and create more capacity for the world’s largest ships.
The 300 million pounds of funding builds on DP World’s 2 billion pounds investment in the UK over the past ten years, and represents the next step for the world’s leading smart logistics provider to provide customers with integrated supply chain solutions.
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World Group, said: “I am pleased to announce that we will continue to make the latest major investment in the UK, which will give London Gateway greater capacity than ever before. The largest ship in the world. Other ports in the country.”
“As the core pillar of the Thames Freeport, the new fourth berth at the London Gateway will enable more customers to benefit from world-class ports and logistics, as well as unparalleled global connectivity, right at the door of Europe’s largest consumer market. DP World The plan is to become the core of the future of UK trade. This investment demonstrates our ambition and resources to promote growth, support businesses, create jobs and improve living standards.”
The Chancellor of the Exchequer Rt Hon Rishi Sunak MP will be the guest of honor at the Thames Freeport Business Conference held today at the Savoy Hotel in London. He added: “Our new free port will create a national trade, innovation and business center, and attract more investment to revitalize the community and upgrade the UK.”
“Combining ports and businesses to invest in their respective regions is critical to Freeport’s success story-that’s why I’m very pleased that DP World has invested 300 million pounds to support Thames Freeport-creating new opportunities, promoting growth and supporting local employment .”
In the first six months of 2021, the throughput of the London Gateway reached a record 888,000 TEUs, an increase of more than 23% from the previous best performance in the first half of the year. The new fourth berth will increase its capacity by one-third, and its completion will coincide with the delivery of a new wave of 24,000 TEU ships in 2023/2024, all of which will operate between Asia and Europe.
After being granted free port status by the government earlier this year, DP World London Gateway will form the Thames Freeport together with Tilbury Port and Ford’s Dagenham plant. The partners are currently advancing business cases with a view to obtaining formal certification. As part of the Solent Freeport, DP World Southampton was also granted free port status, further consolidating the key role of these two logistics hubs in the UK’s international trade.
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