BPA Finds $2.6 Billion in UK Port Investment Pipeline
The British Ports Association (BPA) has found that UK ports and terminals have an estimated US$ 2.36 billion (£1.7 billion) of port infrastructure investment in the development pipeline.
New research published by infrastructure advisory firm Moffatt & Nichol as part of the BPA’s ‘Port Futures’ programme has highlighted the significant schemes all over the UK.
The report has highlighted how ports in all parts of the UK are investing in new facilities to foster growth in the UK market.
Mark Simmonds, BPA’s Policy Manager and BPA Port Futures programme coordinator said: "Ports are doing their bit but we rely on Government to ensure that road and rail connections from the port gate are fit for purpose.
“The terrestrial and marine planning and consenting process is also cumbersome and costly and often holds back or even prevents some sustainable port development.
“We hope that this report helps Government to develop an accurate picture of the investment that industry is making when developing its policies and making its own investment decisions regarding infrastructure"
"This research demonstrates that UK ports are investing in new infrastructure to keep goods and people moving as efficiently as possible. The UK ports industry operates in a competitive and commercial environment, independently of Government, so this significant investment is at no cost to the taxpayer.”
Joseph Collins of Moffatt & Nichol carried out the research, which uses data from a Moffatt & Nichol assessment using publicly sourced information taken from the last 12 months.
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 $ 486 million (£350 million) new 'south harbour' project.
Commenting on the report, Collins said: "This report focusses on developments which have been announced in the press in the last 12 months and provides a snapshot of the potential scale of UK ports' investment in infrastructure.
“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.”