PRIME MINISTER Gordon Brown and Business Secretary Peter Mandelson visited DP World London Gateway today after it was announced that the Stanford-le-Hope super-port was going ahead with the first part of its investment.
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).”
Thurrock Council Leader, Garry Hague was also delighted by the news. Cllr Hague said: “The London Gateway Port scheme is key to the regeneration of the borough, there are still many challenges to overcome but this is a positive signal that DP World have announced they are moving forward with the next stage of the project.
“Success means the creation of thousand of jobs, improved job opportunities to the residents of Thurrock and injecting many millions of pounds into the local economy.”
Go the www.theenquirer.co.uk for further coverage of the PM’s visit.
Thanks to The Enquirer for photographs provided.