Business, Freight News, Sea

Euro-bank approves Liverpool funds

[ August 2, 2012   //   ]

The European Investment Bank has approved funding for the Liverpool 2 project to build a major container hub at the city’s port. The EIB grant is for €180 million (£150m) out of a total cost of about €365m. The scheme would ready Liverpool’s Seaforth docks for the latest generation of containerships, allowing to handle vessels of up to 13,500teu.

Gary Hodgson, managing director of Liverppol’s owner, Peel Ports Mersey, said: “While this approval is conditional on the Bank continuing to review certain aspects of the project, it represents another significant step in the development of a new in-river container terminal for the Port of Liverpool. This positive news is another sign of confidence in what will be a transformational project for the business and a major investment in the North West region.”

Meanwhile, the second and final phase of a £4.3m refurbishment of the Port of Liverpool’s lock system was completed on 28 July, with the West Inner Gate at the Port’s Gladstone Lock replaced in a complex engineering operation, over 24 months. Lessons learned during a similar operation in May involving the Lock’s East Inner Gate resulted in a vastly-reduced 36 hour outage and all scheduled regular shipping arrivals were able to access the dock system via Gladstone Lock as normal without disruption.


Tags: , ,