DP World announces £1bn injection into London Gateway

14th Oct 2024 11:25

(Sharecast News) - The London Gateway is to become Britain's largest container port within five years after operator DP World announced a £1bn expansion to boost capacity.

DP World said on Monday that it would increase the number of shipping berths at London Gateway in Essex from four to six and build a second rail terminal to handle an expected increase in containerised trade.

Felixstowe on the Suffolk coast is currently the busiest container port in the UK, handling 42% of the region's container trade.

DP World said that, by the end of the decade, the full 2.5km quayside will be able to receive six vessels at once.

The investment, which will increase the site's employment by a third to 1,600, is the "culmination of a rapid growth plan for the Thames Estuary hub which opened in 2013 and has been a catalyst for economic regeneration in south Essex", DP World said.

DP World's total investment into London Gateway will increase to more than £3bn, after it turned the former oil refinery site into a logistic hub in 2013.

"DP World London Gateway will help make Britain's trade flow in the future by connecting domestic exporters with global markets and delivering vital supply chain resilience for the whole economy," said Sultan Ahmed bin Sulayem, chair and chief executive of DP World.