The Port of Blyth, located in the north east of England, has announced..."> The Port of Blyth, located in the north east of England, has announced...">

Port of Blyth nets £12m for expansion

Port of BlythThe Port of Blyth, located in the north east of England, has announced a new £12m banking facility with Lloyds Bank that will enable the next phase in its expansion. The Ports is set to make major investments in its terminal infrastructure and the construction of new warehousing, as well as strengthening quays and installing new cranes.

The Ports investment, via the consolidation of a long-term relationship with Lloyds Bank, is set to support key developments to serve clients in the offshore energy, dry and liquid bulks sectors.

Oran Robson, finance director at Port of Blyth, said: “The potential at the Port across numerous sectors is huge, but to make the most of those opportunities and to ensure we continue to diversify our offering to protect the business’ long-term security, it’s crucial we invest now.

“This series of developments will facilitate a large number of new jobs on Port land as we aim to double the number of those employed on site from 500 to over 1000 in five to ten years. These ventures will also act as a catalyst for growth in the local economy and will no doubt stimulate inward investment into the town.

“We anticipate that major projects such as the joining of our Bates and Wimbourne Quay terminals will attract significant interest from the industry and will enable us to exceed 50 per cent turnover growth targets during the investment period.”  

In recent years the Port has seen the arrival of major clients including Royal IHC, Global Marine Group and DeepOcean.

The Port is involved in an on-going development in partnership with Arch of Energy Central, one of the UK’s largest quayside offshore energy development sites. It has also supported major projects such as EDF’s Blyth Demonstrator wind farm and the North Sea Link interconnector with Norway.

Michael Hindhaugh, relationship director, Lloyds Bank Commercial Banking, said: “This investment represents a great step forward for the Port of Blyth.

“The new facilities will create jobs and investment straight away, and it will help to future proof the Port, making it a driver of prosperity for many more years to come.

“Lloyds Bank is committed to supporting investment that helps Britain prosper and we have dedicated teams on hand to offer bespoke funding solutions and expertise.”

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