DP World to invest £300m in new fourth berth at London Gateway logistics hub to strengthen UK’s supply chain
DP World today announces that it will begin work next month on a new fourth berth at its London Gateway logistics hub to increase supply chain resilience and create more capacity for the world’s largest vessels.
The £300m sum - which builds on the £2bn investment DP World has made in Britain over the last decade – represents the next step by the leading global provider of smart logistics in delivering integrated supply chain solutions for customers.
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.”
“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.”
Rt Hon Rishi Sunak MP, Chancellor of the Exchequeur, will be guest of honour at today’s commercial launch of Thames Freeport at the Savoy Hotel in London. He added: “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.”
In the first six months of 2021 London Gateway saw record throughput of 888,000 TEU, a more than 23 per cent 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.
Along with the Port of Tilbury and Ford’s Dagenham plant DP World London Gateway will form Thames Freeport after being awarded freeport status by the Government earlier this year, with the partners currently progressing the business case with a view to receiving formal accreditation. DP World Southampton has also been awarded freeport status as part of Solent Freeport, further cementing the critical role of both logistics hubs in the UK’s international trade.
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About DP World in the UK
DP World in the UK is at the heart of Britain’s trading future, providing the right trading infrastructure and smart logistical solutions for our customers. We believe in the UK market and have the ambition and the resources to boost growth, support businesses, create jobs and improve living standards.
We have created a high-quality integrated business – two deep water ports with freight rail terminals at London Gateway and Southampton, a rapidly expanding logistics park, and an advanced software business providing online links to customers and border control.
About DP World
We are the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. Our comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.
We deliver these services through an interconnected global network of 128 business units in 60 countries across six continents, with a significant presence both in high-growth and mature markets. Wherever we operate, we integrate sustainability and responsible corporate citizenship into our activities, striving for a positive contribution to the economies and communities where we live and work.
Our dedicated, diverse and professional team of more than 53,000 employees from 131 countries are committed to delivering unrivalled value to our customers and partners. We do this by focusing on mutually beneficial relationships – with governments, shippers, traders, and other stakeholders along the global supply chain – relationships built on a foundation of mutual trust and enduring partnership.
We think ahead, anticipate change and deploy industry-leading technology to further broaden our digital vision to disrupt world trade and create the smartest, most efficient and innovative solutions, while ensuring a positive and sustainable impact on economies, societies and our planet.