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DP World to invest another $1b in London Gateway

10/7/2011 10:32:43 AM

Ports operator DP World will invest another $1 billion in the London Gateway project over the next three years, adding the new port centre will be operational by the fourth quarter of 2013, reported Reuters.

The port operator said the under-construction port would have an initial capacity of 1.6 million TEUs.

The London Gateway, located about 25 miles from central London, is funded by the Dubai-based operator and is planned to be a $2.32 billion deep-sea container port incorporating Europe's largest logistics park.

The port operator also awarded four port equipment contracts, which includes a partnership with Cargotec for port automation.


DP World said the London Gateway project will create 1,000 new jobs – 700 in construction jobs and 300 in the facility.

 

Cargonews Asia

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