The Port of Tyne has secured a £50m boost from the UK infrastructure Bank to power its expansion and regeneration plans.
The finance deal from the bank – which is wholly owned by HM Treasury but operationally independent from Government – will enable regeneration and redevelopment of land at the port that will provide a base for the growing number of companies in green industries in the area, including offshore wind.
The port’s CEO Matt Beeton said the projects will help it move towards a cleaner and greener future, while also ensuring the 12,000 jobs it provides can continue to be supported.
