DP World, a global end-to-end supply chain solutions provider, has announced it will distribute up to £15 million ($18.6 million) to community projects in the Thames Estuary region.
DP World is entering into agreements with its new occupants at London Gateway Logistics Park – part of the Thames Freeport tax zone – to fund a joint levy that will be distributed to promote community projects, social infrastructure, and skills training in the area.
The sum raised is expected to amount to £15 million ($18.6 million) over five years, according to Alan Shaoul, UK Chief Financial Officer at DP World.
The logistics business is currently engaging with the community to identify suitable projects, and those selected will include community initiatives, social infrastructure, and skills and education programmes in conjunction with schools and colleges.
READ: DP World nears 20 million TEU in Q1 2023
“We aim to invest the funds in projects which support the economic regeneration of the Thames Estuary, Thurrock, and neighbouring boroughs,” Shaoul said.
“We are excited that this fund will allow us to increase our level of community investment significantly while helping to address longstanding skills challenges. We shall be looking to partner with around a dozen projects which will make a real difference to local people’s lives.”
Over the last decade, DP World has invested £2 billion ($2.5 million) in the UK and over the next ten years has earmarked a further £1 billion ($1.24 million) of investment, including a £350 million ($435 million) new fourth berth at London Gateway, which will raise capacity by a third when it is completed next year.
The construction of the new fourth berth supports 1,000 jobs, and the rapidly growing logistics park will employ 12,000 people when it is completed in five years.
In March 2023, DP World announced the opening of Reefer World, a new one-stop refrigerated container facility in Sydney, Australia.
More recently, DP World announced the installation of sunlight-converting photovoltaic panels at its UK London Gateway hub.
