A £1billion expansion of London Gateway port by DP World is going ahead and will create 400 new permanent jobs, say company chiefs.
The logistics and shipping cargo giant confirmed the huge development would happen after being thrown into doubt in a row ahead of the London investment summit.
Dubai-based DP World said the massive investment would expand London Gateway to become Britain’s largest container port within five years.
The plans would increase the capacity of the port by building two new shipping berths, bringing the site to six berths which could receive the world’s largest container ships.
A second rail terminal would also be built to deal with increased container trade.
The expansion would create a further 400 permanent new jobs, the company said.
Sultan Ahmed bin Sulayem, group chairman and chief executive of DP World, said: “DP World London Gateway will help make Britain’s trade flow in the future by connecting domestic exporters with global markets and delivering vital supply chain resilience for the whole economy.
“I am proud of this major investment which underlines DP World’s long-term commitment to the UK.”
The company stressed that by the end of the decade, the full quayside stretching more than 2.5km (1.5 miles) would be able to simultaneously receive six vessels, each more than 400 metres long, and boast Europe’s tallest quay cranes, at the height of Big Ben.
Company chiefs added that the expansion would create a further 400 permanent new jobs, in addition to the 1,200 currently employed at the site, a former oil refinery, with DP World’s total investment at London Gateway heading over £3 billion.
The positive economic news came after reports that DP World, which also owns P&O Ferries, was set to shelve the announcement over calls from a Government minister to boycott its subsidiary.
On Wednesday last week, Transport Secretary Louise Haigh described P&O Ferries as a “cowboy operator”.
The criticism was aimed at the company’s actions in March 2022, when it suddenly sacked 800 British seafarers and replaced them with cheaper, mainly overseas staff, saying it was necessary to stave off bankruptcy.
In an ITV interview, Ms Haigh went further, saying: “I’ve been boycotting P&O Ferries for two-and-a-half years, and I encourage consumers to do the same.”
DP World subsequently said it would attend the summit after getting “the clarity we need”.
Ministers are expected to announce some £40 billion of investment into the UK at the summit.
Sir Keir is seeking to attract investment, to fire up the UK’s economic growth, by restoring economic and political stability, and reforms including cutting regulations such as to the planning system.
London Mayor Sadiq Khan stressed that the event showed “London and the UK are open for business, trade and investment”.
