Friday , 23 August 2019
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ABP invests £250m to prepare for a No-Deal Brexit

Associated British Ports (ABP) has invested a total of £250m (US$321.3m) since the EU referendum in 2016 with the aim to “keep Britain trading through Brexit”.

The UK port operator has claimed that it has been actively working to support businesses anxious about the event of a No-Deal Brexit and the potential severe disruption this may cause at the Port of Dover.

Its container and ferry facilities on the river Humber are capable of helping businesses to bypass this disruption, according to the company, as it provides regular and reliable links to Europe.

ABP, among a range of other investments throughout its network of 21 ports across England, Scotland and Wales, has invested £50m (US$64.3m) to boost capacity at its container terminals at the ports of Hull and Immingham.

It has also invested £65m (US$83.5m) to help ensure the future of the steel industry on the river Humber and £55m (US$70.7m) to enhance the automotive and cruise offering in the Port of Southampton.

Henrik Pedersen, the port operator’s CEO, said: “For ABP, ‘keeping Britain trading’ is a responsibility that we are passionately committed to. We are continuing to invest in our people, equipment and capability so that we have the flexibility and resilience we need to help UK trade to flow and grow.”

Pederson has claimed that ABP has seen volumes begin to rise at its ports on the Humber as customers look for alternatives to Dover.

ABP handles almost £150bn (US$192.7bn) of UK trade across its port network and has contributed roughly £7.5bn (US$9.6bn) to the UK economy, according to the company.

Pederson added: “We want to send a strong message that ABP stands ready to keep Britain trading through Brexit, and we will continue to invest to drive trade and create jobs over the longer term.”