Dubai’s DP World to finance Prestigious London Gateway Project

Dubai’s DP World to finance Prestigious London Gateway ProjectDP World Ltd. (DPW), Dubai’s state- controlled port operator would fund the prestigious London Gateway deep- sea port for 20 years. An additional amount worth billion dollars will be invested over the project in next three years by the company using an equal mix of debt and equity according to information availed from its website.

DP World, the world’s fourth-largest port operator, has enhanced its group capital expenditure for 2010-2012 to $2.7 billion and major chunk of amount would be spent during 2013. The gateway on prestigious Thames River about
25 miles (40 kilometers) east of London and adjacent to a logistics park is scheduled to be operational by the fourth quarter of 2013. It would have capacity for 1.6 million 20-foot containers.

This would be the Britain's first deep-sea container port made by DP World. Firm's chairman, Sultan Ahmed bin Sulayem, told, "Investment in ports and logistics is always a long term investment. We believe the demand is going to be there, definitely. ... The UK needs it."

The project would create 700 construction and 300 port jobs in the coming months hence reducing unemployment problem to a great extent besides strengthening their Brintain’s links with Asia and beyond.