A multi-million investment is to be ploughed into the Port of Tyne, UK to upgrade its wood pellet handling facilities.
The Port is already the largest handler of wood pellet in Europe and the plans are to enhance and expand its existing wood pellet storage facilities and associated quay and rail infrastructure to the tune of £180 million (€209.2 million).
Discussions are ongoing with existing and new clients as to how best serve the facility with the money but, initially, the Port will submit applications to extend its multi-functional berths at Riverside Quay by 100m and provide additional facilities for wood pellet including multi-purpose sealed storage, enclosed conveyor systems and a new length of railway line.
‘It is in renewable energy where we see the next major area of growth for us,’ says Andrew Moffat, the Port of Tyne's CEO. ‘That is why we are working with major companies in the power generation industry to identify their future requirements and making sure we will be ready to meet their needs.
‘The Port is on target for another year of record turnover and profit,’ Moffat adds. ‘To continue to survive and thrive, we must maintain a competitive advantage and these plans will enable us to do just that, significantly increasing the Port's impact on the regional economy.’
If the plans go ahead in full, it is believed 900 construction jobs will be created, 300 permanent positions thereafter and an additional 2,000 indirect roles supported.