DP World to invest another $1 billion in London Gateway project

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The London Gateway, located about 25 miles from central London, is funded by the Dubai-based operator and is planned to be a 1.5-billion-pound deep-sea container port incorporating Europe's largest logistics park.

The port operator also awarded four port equipment contracts, which includes a partnership with Cargotec for port automation. Cargotec said separately that the project size is around 100-150 million euros.

DP World said the London Gateway project will create 1,000 new jobs - 700 in construction jobs and 300 in the facility.

The operator, which completed its secondary limiting on the London Stock Exchange earlier this year, reported a four-fold increase in its first-half profits as it booked gains from the sale of its Australian port operations last year.