New report reveals scale of UK ports' infrastructure investment
The British Ports Association has published new research by infrastructure advisory firm Moffatt & Nichol which shows that UK ports and terminals have an estimated £1.7bn of port infrastructure investment in the development pipeline.
The research is part of the British Ports Association’s ‘Port Futures’ programme and was undertaken by Moffatt & Nichol. It captures significant schemes all over the UK and highlights how ports in all parts of the UK are investing in new facilities to foster growth in the UK market.
The research was carried out by Joseph Collins, of Moffatt & Nichol. Commenting on the report, Joseph said:
“This report focusses on developments which have been announced in the press in the last 12months and provides a snapshot of shows the potential scale of UK ports’ investment in infrastructure. and Despite there being no guarantee that all of these projects will be fully realised, with greater engagement between key stakeholders such as Government, the Ports, Investors and Statutory Bodies, the realisation of these developments has the best chance of success. It’s also likely that there are a many more privately financed infrastructure projects planned or underway all around the country, which haven’t been discussed in public yet. Together, these projects help ensure that the 95% of UK trade that moves through our ports continues to do so as efficiently as possible.”
The British Ports Association will be writing to the Infrastructure Projects Authority to ensure that officials have a clear picture of industry investment, highlighting significant projects such as Aberdeen’s £350m new ‘south harbour’ project and the Port of Tyne’s £38m investment in in support of an overall £300m development of a new biomass plant. There are over a dozen other significant port projects listed in the research. These projects were not included in the most recent ‘pipeline’ report from the Infrastructure and Projects Authority, but demonstrate great optimism in infrastructure development and growth in the port sector.
The British Ports Association will also be working with its wide range of port members and will be keeping the list of investment up to date as new projects are announced.