Port of Blyth Announces £12 Million Arrangement with Lloyds Bank
- Business & Finance
The Port of Blyth has announced a new £12 million banking facility with Lloyds Bank that will enable the next phase in its rapid expansion.
Major investments will now be made in relation to terminal infrastructure and the construction of new warehousing, as well as strengthening quays and installing new cranes.
Chief Executive of the Port of Blyth, Martin Lawlor, said: “The new arrangement with Lloyd’s allows us to move swiftly forward with a number of important investments that are crucial to the Port’s ambitious growth plans.”
“With major works at both our South Harbor and Wimbourne Quay terminals on behalf of incoming clients from the offshore energy sector soon to be completed, we are now turning our attention to long term projects elsewhere in the port that will generate both jobs and inward investment.
“We will shortly begin work to join our Bates and Wimbourne Quay terminals in order to offer clients a more flexible and future-proofed single terminal while work to develop both our dry bulk handling and offshore decommissioning offerings at our Battleship Wharf terminal will follow.”
According to their latest announcement, progress at the port in recent years has seen the arrival of major clients including Royal IHC, Global Marine Group and DeepOcean, with a powerful cluster of offshore energy companies and a well-developed supply chain making the port an increasing attractive proposition.