DP gives London Gateway date

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The Independent Online

Dubai's DP World has finally set the date for its new London Gateway deep-sea container port, announcing yesterday that it would be operational by the fourth quarter of 2013.

The world's third largest ports operator said it planned to pump about £640m into the development over the next three years in addition to the £400m it has already invested.

London Gateway is 25 miles east of London on the north bank of the Thames. It will have an initial container capacity of 1.6 million TEU (twenty-foot equivalent) container units and, according to DP World, will contribute £3.2bn to the UK economy a year.