Work has begun on the UKÔÇÖs first container port to be built in 25 years, the siteÔÇÖs owners have announced.
Dubai's DP World, part of state-owned investment group Dubai World, will stand behind plans to build the London Gateway deep sea port on the banks of the river Thames. There had been doubts about whether the project would go ahead following the recent downturn in global trade.
The project, which will cost an estimated £1.5 billion, will also incorporate a logistics park, to be built near Thurrock in Essex.
Once complete, the development will be Europe's largest combined deep sea port and logistics park.
DP World has acquired around 1,000 acres and other interests in the project from Royal Dutch Shell and now plans to commence construction work.
The prime minister Gordon Brown and business secretary Lord Mandelson yesterday visited the site for a ceremony to mark the start of construction.
Lord Mandelson said the project would create 36,000 jobs. "Developing our infrastructure will underpin the steps the government is already taking to stimulate the economy, and will lay the foundations for further advances in the future," he said.
The project is expected to transform product distribution across much of the UK as it will allow goods to be landed closer to London and the rest of the south-east. The two busiest container ports are currently Felixstowe in Suffolk and Southampton in Hampshire.
The port is expected to function as a hub, with containers being sent via smaller ships to other British ports.
Overall, the project will create around 36,000 jobs, including 12,000 in the short-term in construction and logistics.
In a statement, the prime minister said: ÔÇ£The London Gateway is a significant foreign investment into the UK. It is a massive vote of confidence in the UKÔÇÖs economic recovery and in this region.
ÔÇ£UK Trade & Investment and other Government departments have worked closely with DP World over a number of years to make this project possible.ÔÇØ
He continued: ÔÇ£I am delighted with the decision to locate this world-class project here in the UK. It will help bring the largest deep sea vessels here and improve the efficiency of the UKÔÇÖs freight distribution, creating thousands of jobs, future growth and economic prosperity.ÔÇØ
DP World expects the portÔÇÖs infrastructure to be complete within three to five years.
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