A £200m investment into a new freight ferry terminal at the Port of Immingham has been confirmed at the Government’s international investment summit.
The Immingham Eastern Ro-Ro Terminal will receive the financial backing from Associated British Ports (ABP) and Stena Line, with the project receiving a development consent order from the Transport Secretary. The project is expected to create 700 jobs during construction and 200 permanent jobs once operational.
It’s hoped the new terminal will boost the UK logistics sector and boost supply chains in the North. The project was one of a number of schemes announced at today’s international investment summit which the Government said would see more than £63bn invested in the UK to create nearly 38,000 new jobs.
Henrik L. Pedersen, CEO of ABP said: “We are delighted that the Development Consent Order (DCO) for the Immingham Eastern Ro-Ro Terminal (IERRT) has been granted. This approval marks a significant milestone in our mission to Keep Britain Trading through enhancing the UK’s logistics infrastructure and bolstering trade capacity across the North Sea.
“The IERRT project is a key component of our strategy to strengthen the UK’s supply chains and improve trade connectivity, whilst also bringing substantial economic benefits including the creation of hundreds of jobs during construction and ongoing operations. We are confident that, with the necessary adjustments, we can proceed on schedule to begin construction in 2025 and complete the project by 2026.”
Niclas Mårtensson, CEO of Stena Line said: “We are very pleased that the Secretary of State has approved the new RoRo terminal at the Port of Immingham. The port is of great strategic importance to Stena Line and we’re looking forward to building on the success we have seen in the unaccompanied freight market. This is a long-term commitment for us and will be integral to expanding our freight operations on our routes between the UK and Continental Europe to serve demand.”
Business and Trade Secretary Jonathan Reynolds said: “Global investors should be in no doubt that under this new government Britain is truly the best place to do business. The record-breaking investment total secured at today’s Summit marks a major vote of confidence in the UK and our stability dividend across industry and innovation.
