DB World is moving ahead with a $1.3 billion investment in London’s Port Gateway

After receiving clarification from the British government, DP World confirmed that it was involved in the British government’s investment summit scheduled for Monday, which includes the announcement of a billion pound ($1.3 billion) investment in the Its London Gateway Port.

A DP World spokesman said in a statement issued in London, a copy of which was obtained by Bloomberg: “After constructive and positive discussions with the government, we received the clarity we needed We looking forward to participating in the International Investment Conference on Monday.”

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, will participate in the investment plan to be part of the summit, according to what Bloomberg reported, citing a person familiar with the plans.

DP World has already invested £2 billion in the site since it began operations 11 years ago.

Last week, Dubai Ports decided to pull out of the summit and cancel an investment plan in the United Kingdom, following comments from Deputy Prime Minister Angela Rayner and Transport Minister Louise Haig about the company.

Located at the 400-job-creating Port of London Gateway, about 30 miles east of central London, it currently has three sites to handle the world’s largest container ships, with a fourth set to open next door. -within weeks. The investment would add two more locations, increasing capacity by 50% and bringing DP World’s total workforce there to 1,600 from 1,200.

“When the first boat arrived here in 2013, there was certainly a lot of ambition” and even some skepticism about the long-term viability of the project, said Ernst Schulz, chief executive of DP World UK. “You can see that it has worked in the long term” and “there is a desire to grow business now – and a need for it”.