ABP TO INVEST £44.5 MILLION IN NEW TERMINAL DEVELOPMENT AT THE PORT OF IMMINGHAM
Associated British Ports Holdings PLC (ABP), the UK’s largest port operator, today announces its largest-ever investment in a terminal development.The group is to invest £44.5m in a new coal facility at the Port of Immingham, which will serve the UK’s electricity-supply industry.
The new development represents a major extension of the group’s existing deep-water cargo berth, Humber International Terminal, and will be capable of handling up to 7.5 million tonnes of coal each year. The facility is being built on the back of term agreements between Associated British Ports and BHP Billiton, Drax Power and EDF Energy.
Government approval has already been received for this development and construction work on this project has commenced.The new terminal is expected to handle its first shipment of imported coal by mid-2006.
Commenting on the new development, Bo Lerenius, ABP’s Group Chief Executive, said:
“Following the recent strong demand for imported coal, we are delighted to have reached agreements, that meet our investment criteria, with some of the UK’s major energy suppliers, enabling us to develop this new facility.Our investment will alleviate the existing capacity shortage for imported coal.
“In total, we have plans to invest in excess of £400m over the next 10 years in the group’s core UK ports business, including three further river terminals on the Humber, providing a strong underpinning to the group’s future development.”
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