Dubai’s DP World to invest $414.8m in London Gateway port

Logistics operator DP World is investing £300 million ($414.8 million) to build a fourth berth at its London Gateway hub.

Construction will begin in October, the Dubai company said in a statement, as it aims to boost capacity for large vessels.

“As a central pillar of Thames Freeport, London Gateway’s new fourth berth will allow even more customers to benefit from world class ports and logistics,” said Sultan Ahmed bin Sulayem, the chairman of DP World.

Operated by DP World, the London Gateway is a port within the wider Port of London. It was opened in 2013.

British chancellor Rishi Sunak said the Thames Freeport will “create national hubs of trade, innovation and commerce, and attract investment” for the UK.

The investment will support this goal, he added, saying it will create new trade opportunities and support local jobs.