DP World to Invest $2.5bn in UK's First Deepwater Port
Marine terminal operator DP World is planning to invest $2.5bn to establish the London Gateway, the UK's first deepwater port, about 25 miles (40km) east of the UK capital.
The company has allocated $645m for dredging and reclaiming land, which is expected to save costs and reduce 65 million freight miles annually.
DP World has started dredging about 106 million cubic feet in order to accommodate the world's biggest ships at London Gateway.
After completion London Gateway would expand the UK's capacity for ultra-large container ships and become Europe's sixth biggest port.