DP World will pour another £300m into London Gateway to build a fourth berth at the logistic hub.
The sum is in addition to the £2bn DP World has already spent on the Thames port.
Group chair and CEO Sultan Ahmed Bin Sulayem said the boost “will give London Gateway more capacity to handle the world’s largest vessels than any other port in the country”.
London Gateway is the “central pillar” of the planned Thames Freeport, he added, and will be “at the heart of Britain’s trading future”.
Along with the Port of Tilbury and Ford’s Dagenham plant DP World London Gateway will form Thames Freeport, after being awarded freeport status by the government earlier this year. The partners are currently working on the business case with a view to receiving formal accreditation.
DP World Southampton has also been awarded freeport status as part of Solent Freeport, further cementing the critical role of both logistics hubs in the UK’s international trade.
The chancellor, Rishi Sunak, will be guest of honour at today’s commercial launch of Thames Freeport at the Savoy Hotel in London.
“Our new freeports will create national hubs of trade, innovation and commerce, and attract more investment to regenerate communities and level up the UK,” he said.
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