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Green light for Thames Freeport

[ March 21, 2023   //   ]

The Thames Freeport has been cleared to start full operations and constitute its board, after getting Government approval of its final business case.

A partnership between Ford, Forth Ports Limited and DP World, Thames Freeport says it will bring in over £4.6 billion in new public and private investment, and create over 21,000 new jobs while investment in training and skills will contribute to the ‘levelling-up’ of the communities and businesses in East London and South Essex. 

The Freeport offers 1,700 acres of development land..

The Freeport says it has generated over 500 new jobs, with six businesses taking up sites that offer a package of financial incentives. 

Three non-executive directors have been appointed  – Paul Livingston (pictured, right), chief executive and chair of Lockheed Martin UK; Professor Matt Hamnett (pictured, centre), an expert in strategy, policy and major programme delivery who has worked for the Department for Education and in Capita’s major deals team; and Joan MacNaughton (Lady Jeffrey, pictured left), currently an Independent non-executive director of Heathrow Airport Holdings and a trustee of the Green Purposes Company.

Levelling Up Minister, Dehenna Davison MP, said: “We’re delivering on our mission to grow the economy and level up right across the UK. Thames Freeport is up and running and will bring high quality jobs, investment and trading opportunities for businesses in the region.” 

Chair of Thames Freeport, Ruth Kelly, commented: “Thames Freeport offers expanding businesses in green tech, low carbon logistics and manufacturing the advantage of the substantial investment incentives, streamlined customs procedures and co-location within a flourishing green freeport ecosystem.  The addition of three industry heavyweights to our board as further momentum to our freeport offering. We welcome you to join us in this journey towards a better, greener and global future.”

Charles Hammond, chief executive of the Forth Ports Group (owner and operator of the Port of Tilbury), added: “Over the coming months, we will begin to see the green shoots of the freeport’s land development, infrastructure projects, skills initiatives and innovation programmes take shape. The appointment of a strong management team and board will boost the freeport activity and complement our business strategy, which is centred on accelerating growth in our low carbon logistics offering at the heart of Europe’s biggest consumer market and the South East’s industrial base.

“Freeports can be a real catalyst for change. To that end, we welcome the continued engagement from officials and ministers to refine the process and improve the policy.”

Ernst Schulze, UK Chief Executive of DP World, said: “As well as further cementing London Gateway’s Logistics Park as the UK’s premier port-centric logistics solution, Thames Freeport will also create local jobs and help ensure that the UK continues to be an attractive destination for inward investment.

“DP World plans to make £1bn of investment into the UK over the next decade, including the £350m new fourth berth at London Gateway that is currently under construction. We will continue to look at options to enable the UK economy’s global connectivity, create high-skilled jobs, invest in clean energy technologies, and support the development of local industry.”

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