DP World signed a 400 million pound contract to build the first phase of a new port at London Gateway, the most technically advanced container port in the world, integrated with Europe's largest logistics park.
This is the first major contract to be awarded in the £1.5 billion project, due to be built over the next 10 to 15 years. The contract is over five years, and will see the construction of the first phase of the port's quay providing three berths and over 1.2 kilometres of quay in a joint venture between Laing O'Rourke and Dredging International. The new port will eventually handle 3.5milion TEU (twenty foot equivalent units), providing a much needed increase in capacity for the UK's container terminals. The South Essex project is currently set to be the largest creator of new jobs in the UK, delivering over 12,000 in the coming years, and is the largest investment in the South East of England. Chief Executive of London Gateway, Simon Moore, said: "This contract is a major milestone in constructing the port. In an economic climate where the building industry is experiencing a sharp slow down, this is great news for Essex and the UK in general.
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