ABP WELCOMES GOVERNMENT GREEN LIGHT FOR SHORTSEA RIVERSIDE CONTAINER TERMINAL AT HULL
The Board of Associated British Ports Holdings PLC (‘ABP’) today, 21 December 2005, welcomes the Government’s decision to permit the building of ABP’s proposed container-shipping terminal at its Port of Hull.
The two-berth development will allow the port to accommodate larger container vessels than can currently be handled, and to meet the expected growth in short-sea container traffic. Container volumes at Hull rose 10.2 per cent in the first half of 2005. The projected capital cost of the development is expected to be between £30m and £35m.
The terminal will only be built once ABP has a customer contract in place, and the group is currently in negotiations with potential users of this facility, which will take around eighteen months to construct.
Bo Lerenius, ABP’s Group Chief Executive, said:
“Container volumes at Hull have continued to grow in 2005 and we are therefore very pleased that the Government has recognised the need for additional container capacity on the Humber. This development provides the group with an important opportunity for growth, and will also benefit the local and regional economies.”
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