£100M investment to develop new Immingham freight terminal
Stena Line and Associated British Ports (ABP) have entered into an agreement to jointly develop a new freight terminal at the Port of Immingham.
The £100 million agreement will see the Swedish ferry company operate the new terminal for the next 50 years.
The new development will allow for quicker sailing times and allow the use of larger vessels to increase capacity from across the region and the rest of the UK.
Niclas Martensson, Chief Executive Officer of Stena Line said: “We are very pleased to announce that we will now take the next steps in the strategic vision for our routes between the UK and Continental Europe. Our freight levels are at record levels and are continuing to increase, so we want to build on this success and provide additional services to our most important business needs, those of our customers, with the development of a brand new terminal and berths at the Port of Immingham.
He added: “Stena Line is pledging a significant long-term commitment that will bring a substantial boost to the region’s economy in terms of jobs and revenue. We look forward to working with Associated British Ports to develop this exciting project.”
ABP will develop a new purpose built terminal facility adjacent to Immingham Outer Harbour for the relocation of Stena Line’s current Immingham freight operations.
Simon Bird, Humber Director, Associated British Ports, said “We’re delighted to welcome this new deal with Stena as it underlines the fact that ABP in the Humber is continuing to go from strength to strength. Stena will be joining a growing family of commercial partners who are choosing to use ABP’s ports in the Humber which have fantastic facilities and connections for traders across Europe and beyond. Our track record in recent years of investing in new infrastructure is making the Humber the place to be for trading links between the Midlands and North of England, and the rest of the World.”
ABP intends to submit an application for a Development Consent Order to the Secretary of State for Transport in early summer with a view to the new terminal facilities being operational in 2025.