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April 22, 2022

ABP to invest £32m in port equipment for Humber ports

As part of the five-year strategy, new cranes will be bought and existing cranes will be refurbished.

Associated British Ports (ABP) has announced an investment of £32m in port equipment for Humber ports, in order to better meet increasing customer demand.

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As part of the five-year strategy, new cranes will be purchased and existing cranes at the ports will be refurbished.

The funding will also be used to purchase landside equipment.

Under the ongoing strategy, ABP will split the investment between mobile harbour cranes and hydraulic cranes.

A Mantsinen 300M, which is claimed to be the world’s largest hydraulic crane, is expected to be installed at the Port of Immingham by the end of the month.

Along with various other attachments, the Mantsinen 300m Hybrilift hydraulic crane is valued at around £3m.

Humber ports regional director Simon Bird said: “Our strategy is about ensuring we have a versatile mix of cranes to cargo mix and that we can provide additional capacity to meet growing volumes of cargo.”

Older infrastructure will be replaced by the incoming plant and machinery while equipment undergoing refurbishment will include the Butterley cranes, which were constructed at the ports of Immingham and Hull in the 1990s.

After discussions with the port community, ABP will also invest in more mobile harbour cranes and material handlers, as well as Reach Stackers and forklifts.

The strategy also caters to bulks, break bulks and project cargo to ensure coverage of offloading and delivery operations.

ABP will also invest £16m of maintenance capital expenditure on cargo handling landslide within Immingham Container Terminal (ICT) and Hull Container Terminal (HCT), as well as on stocking spare parts.

In January, ABP entered into a £100m agreement with Stena Line to build a new freight terminal at the Port of Immingham.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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