DP World to Proceed with London Gateway Project

5 January 2010 (Last Updated January 5th, 2010 18:30)

Port operator DP World will proceed with its postponed £1.5bn ($2.4bn) London Gateway project despite the market downturn. The unit of Dubai World said it will start the construction of infrastructure for the UK-based container port and logistics park near Thurrock in Essex.

Port operator DP World will proceed with its postponed £1.5bn ($2.4bn) London Gateway project despite the market downturn.

The unit of Dubai World said it will start the construction of infrastructure for the UK-based container port and logistics park near Thurrock in Essex.

DP World has bought 1,000 acres of development land and Royal Dutch Shell’s remaining interest in the project for £136m ($219m), the company said in a statement.

London Gateway will be a deep-sea container port incorporating Europe’s largest logistics park.