Categories: News, PD Ports, TeesportPublished On: 19.04.2021275 words1.5 min read

Talks held with Middle East investors over creation of Teesside ‘super port’

Tees Valley Mayor Ben Houchen is in talks with Government ministers and Middle East investors over a multi-billion pound deal to create a new ‘super port’ in Teesside.

Teesport owner PD Ports says free port is a ‘new chapter in Teesside’s renaissance’ (Image: Stuart Boulton)

Teesside is already set to become home to the UK’s first and largest free port after winning the tax-friendly status in Rishi Sunak’s March budget.

Tees Valley Mayor Ben Houchen (Image: Keith Taylor)

And according to The Telegraph, Mr Houchen is now reportedly in talks regarding a takeover of PD Ports, with the aim to absorb the Teesport container gateway into the free port zone.

There was no denial of the reports from Mr Houchen’s office on Sunday.

And he said in a statement: “We’ve successfully secured the UK’s largest free port, the ownership of thousands of acres of brownfield land, millions of sq ft of approved planning for factories, a new heavy lift quay and investors who have signed on the dotted line, and I’m in continuous discussions with Government and potential investors and funders to build on this fantastic start so we can create much needed jobs and opportunities for local people.

“What happens over the coming months is going to be crucial if we want to capture the once in a generation opportunity that now stands before us.”

Rishi Sunak granted Teesport the ‘game changer’ freeport status, in a move that will “turbo charge Teesside’s economy” bringing thousands of jobs and a £3.4bn boost to the area.

Source: Teesside Live website