DP World plans to invest $1bn in London Gateway

6 October 2011 (Last Updated October 6th, 2011 18:30)

Ports operator DP World is planning to invest another $1bn in its London Gateway development and a nine million sq ft logistics park, which is expected to be operational by the fourth quarter of 2013.

Ports operator DP World is planning to invest another $1bn in its London Gateway development and a nine million sq ft logistics park, which is expected to be operational by the fourth quarter of 2013

The deepwater shipping port, located about 25 miles from central London, will have an initial capacity of 1.6Mteu.

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

ZPMC has been contracted to provide eight quay cranes – which DP World claims will be the largest in the world – able to handle the next generation container vessels of 18,000teu capacity.

DP World said the port project is expected to bring £3.2bn to the UK economy each year.