ABP Launches New Multi-million Pound Business to Take Over British Steel's Operation in Immingham
IMMINGHAM, England, November 13, 2018 /PRNewswire/ --
Above: ABP Regional Director Simon Bird and British Steel Deputy CEO Paul Martin sign the Immingham Bulk Terminal Limited contract
ABP has today made a major announcement to confirm that it has agreed a new deal with British Steel in which ABP has agreed to invest £65 million into the Immingham Bulk Terminal (the "Terminal"). The investment will help to help support the long-term future of steel manufacturing in the Humber region.
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The new deal will see ABP take over the operation of the Terminal from British Steel, which is located on the west side of the port in Immingham. Measures are in place to preserve all jobs at the facility and it is expected that a limited number of additional jobs will be created.
All staff currently working for British Steel at IBT (approximately 45 people) will be invited to join Immingham Bulk Terminal Limited, within the ABP group.
The Terminal currently handles over 5.5 million tonnes of bulk cargoes such as iron ore, coal and coke each year destined for the steel manufacturer's Scunthorpe headquarters. The project will help to strengthen the long-term future of British Steel's manufacturing operations in the region as well as the long association of the Humber Ports in supporting the steel industry.
The UK's largest port operator, ABP, already owns and operates four ports along the River Humber, in Grimsby, Hull, Goole and Immingham (the UK's largest port by tonnage).
As part of its £65 million commitment to the project, ABP will invest in new cranes, equipment and infrastructure to underpin the safe and reliable operation of the site for the future use.
Simon Bird, Regional Director of ABP Humber, said: "We see this new venture as a fantastic opportunity for the Humber. Not only will people benefit from potential new job opportunities in the area, but ABP and British Steel will be working together to run a smooth operation which has scope for further expansion of steel manufacturing in the Humber region."
Gerald Reichmann, British Steel's Chief Financial Officer, said: "We're delighted to be working in partnership with ABP, whose expertise in running operations like IBT will enable us to focus on our core steelmaking operations."
"As well as investment, the agreement will give us access to additional berthing opportunities to support our current requirements and enable further growth."
Notes to editors:
About ABP Humber
The four ports of Grimsby, Immingham, Hull and Goole handle more than 58 million tonnes of cargo between them each year worth approximately £75 billion.
The Humber ports support 34,900 jobs in the region and contributes £2.5 billion to the UK economy each year.
With 364 hectares of development land available across the Humber, the company recently launched its new property website https://property.abports.co.uk/.
Grimsby and Immingham form the UK's busiest trading gateway and move around 50 million tonnes of cargo per annum.
More than £130 million has been invested in Immingham Renewable Fuels Terminal, the specialist biomass handling terminal, in a Humber-wide agreement with Drax Power Ltd that has seen a further £25 million invested in a biomass handling facility in Hull.
The Port of Hull handles 10 million tonnes of cargo per annum and is the focal point for the development of the UK's largest offshore wind turbine manufacturing, construction, assembly, and service facility, Green Port Hull, which is located on the Port's Alexandra Dock. This new facility represents a £310 million investment and has created around 1,000 direct jobs.
The Grimsby River Terminal represents an investment of £26 million and allows large car-carrying ships to berth outside the port's lock system. This development confirms the port's position as one of the UK's leading automotive handling facilities.
Each year, more than the equivalent of 1 million TEUs (Twenty Foot Equivalent Unit) containers are shipped through ABP's Humber ports.
Goole is situated 50 miles upriver and is the UK's premier inland port. It handles over one million tonnes of cargo annually.
Video content links: Introduction to ABP Humber
About ABP (http://www.abports.co.uk)
ABP is the UK's leading ports operator with 21 ports and other transport related businesses creating a unique national network capable of handling a vast array of cargo.
The company contributes £7.5 billion to the UK economy every year and supports 119,000 jobs. Our current investment programme promises to deliver an extra £1.75 billion for the economy every year.
ABP:
- Handles over 1.5 million vehicles every year
- Generates around one quarter of the UK's rail freight
- Has 1.4 million square metres of covered storage
- Has 1,000 hectares of open storage
- Handles around 90 million tonnes of cargo each year
- Owns 5,000 hectares of port estate
- Has 87km of quay
Our five-year investment programme across the group is worth £1 billion. Our investment is designed to respond to the needs of our customers whose business relies on our ports for access to international and, in some cases, domestic markets.
Video content links:
Introduction to ABP
ABP Vimeo Channel
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