London Gateway 'shows confidence in UK economy'

Wed 06 Jan 2010

The prime minister has hailed the London Gateway project as a vote of confidence in the UK economy.

Gordon Brown and business secretary Lord Mandelson visited the site of the £1.5 billion development this week to see how work is progressing on one of the biggest infrastructure projects in Britain.

The development will be located on the north bank of the River Thames and will become the largest combined deep-sea port and logistics park in Europe.

It is hoped it will reduce the need to transport goods by road, thereby helping the environment, reducing supply chain costs and creating new jobs.

The London Gateway is being funded by international marine terminal operator DP World, which operates in more than 30 countries.

Mr Brown said its decision to invest in the UK is a reflection of its confidence in the British economy.

He added that he is delighted with the decision to locate the project in the UK, as it will stimulate growth and economic prosperity.

This coincides with new figures from the Chartered Institute of Purchasing and Supply, showing that conditions in the manufacturing sector are improving, which has further fuelled speculation that the UK is emerging from recession.