THE THURROCK economy was given a welcome new year boost with the news that DP World have decided to invest in the area.
The whole future of the multi-billion pound development of the deep water logistics port was thrown into doubt by the global recession and specific downturns in the Dubai economy.
But a statement by the Board of Directors has confirmed that the first phase of investment will be taking place.
The statement read:
“The Board of DP World Limited has reviewed a number of options for the London Gateway project in light of the current market downturn and is pleased to announce it has decided to proceed with construction of essential infrastructure that lays the foundation of the facility.
“DP World will continue to review the development of the port and park operations in line with market demand.
“DP World has today acquired the remaining 1,000 acres of land for the London Gateway and Logistics Park and Shell’s remaining interests in the project for the sum of ₤136 million pounds (approx $220 million).”
YourThurrock will be interviewing Council Leader Garry Hague to gauge his reaction to the news.