Commenting on the news, Sultan Ahmed Bin Sulayem, Chairman DP World, said:
'This is important news and we are very pleased with the UK Government's decision. DP World is planning to invest approximately £1.5bn to develop London Gateway over a 10 to 15 year timeframe. This is the single biggest investment project for DP World. It represents our long-term commitment to bringing benefits and value to our customers and to the UK economy.'
After several years of detailed government consideration due to the size and complexity of the proposal, the decision was announced today by the Transport Minister, Gillian Merron. It is a major milestone in bringing DP World's proposals closer to reality. Detailed environmental assessments were a significant part of the company's proposal to Government to ensure that both construction and operation of London Gateway reflect the land and marine habitats in which the development is taking place.
London Gateway will combine a major deep-water port capable of handling the biggest container ships at superior levels of efficiency and meet the UK Government's identified need for increased deep-sea port capacity. The combined entity will be unique in the UK, providing a world class gateway for the 21st century ensuring that the UK remains competitive in global shipping markets and has the facilities to attract and retain trade from the world's leading businesses. The adjacent logistics/business park, one of Europe's largest, will provide unique supply chain opportunities with integrated road, rail and sea connections with close proximity to major UK markets.
Mohammed Sharaf, CEO DP World, said:
'London Gateway is one of the most significant infrastructure development programmes in the UK. It will play a major role in supporting international trade and deliver a substantial contribution to the UK economy. We will now be analysing the Government's decision letters in more detail, so that we can press ahead and work towards construction. DP World is a global leader in developing facilities of this size and scale and we believe our experience will be a major contributing factor to the success of London Gateway. We are looking forward to delivering the benefits to our customers, to UK businesses, and to the local community as swiftly as possible.'
Construction is planned to begin later this year, with DP World aiming to have first occupiers on the park within 12-18 months, with the port operational from 2010. The development will be a major catalyst for delivering jobs, new homes and new opportunities in this identified growth region, thereby contributing significantly to the UK Government's Thames Gateway regeneration programme.
Simon Moore, Chief Executive of London Gateway, added:
'This is great news. I would like to thank the large number of people and organisations who have supported us as we have developed our proposals. There is still much work to be done, and I look forward to the continued co-operation and support at local and national level so that we can move towards construction as soon as possible.'
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Posted by Anne-Birte Stensgaard, Senior News Editor


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