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DP World gets approval for Dh10-billion London Gateway project
Dubai: DP World said yesterday it has received approval from the British government for its previously-announced £1.5-billion (Dh10.87 billion) London Gateway project, which will include a mega port and a business park.
- By Shakir Husain, Staff Reporter
- Published: 00:00 May 30, 2007
- Image Credit: Gulf News Archive
- DP World, which inherited the project as part of P&O’s $6.8 billion acquisition in March last year, aims to have first occupiers on the business park within 12 to 18 months, while the port is expected to become operational in 2010.
Dubai: DP World said yesterday it has received approval from the British government for its previously-announced £1.5-billion (Dh10.87 billion) London Gateway project, which will include a mega port and a business park.
Construction on the 607-hectare former Shell Haven oil refinery site along the River Thames, in Thurrock, Essex, about 40 kilometres from central London, is scheduled to begin later this year.
DP World, which inherited the project as part of P&O's $6.8 billion acquisition in March last year, aims to have first occupiers on the business park within 12 to 18 months, while the port is expected to become operational in 2010.
The decision to approve the project was announced by Transport Minister Gillian Merron and came after several years of government consideration of a variety of issues, including environmental concerns.
“We are very pleased with the UK government's decision,'' Sultan Ahmad Bin Sulayem, DP World chairman, said in a statement.
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