ABP is taking over the ownership of British Steel’s Immingham Bulk Terminal as part of a £65M investment to help support the long-term future of steel manufacturing in the Humber.
The recent agreement sees ABP form a new business, Immingham Bulk Terminal Limited (IBT), which will also manage the terminal located on the west side of the port in Immingham.
British Steel said the facility will continue to handle more than 5.5 Mtpa of bulk cargoes such as iron ore, coal and coke, all destined for British Steel’s Scunthorpe headquarters.
As part of its commitment to the project, ABP will invest £65M in new cranes, equipment and infrastructure to underpin the safe and reliable operation of the site for the future use.
All 45 employees currently working for British Steel at IBT will be invited to join IBT, within the ABP group. ABP said that port operatives will also work alongside existing colleagues to assist in reducing any labour shortages.
Gerald Reichmann, CFO of British Steel, said: “We’re delighted to be working in partnership with ABP, whose expertise in running operations like IBT will enable us to focus on our core steelmaking operations.
“As well as investment, the agreement will give us access to additional berthing opportunities to support our current requirements and enable further growth.”
Simon Bird, regional director of ABP Humber, said: “We see this new venture as a fantastic opportunity for the Humber. Not only will people benefit from potential new job opportunities in the area, but ABP and British Steel will be working together to run a smooth operation which has scope for further expansion of steel manufacturing in the Humber region.”
IBT Limited will form an arm of ABP’s existing business, and the port operator said it will work hand-in-hand with its current operations, which take place across the Humber ports.
Currently the UK’s largest port operator, ABP already owns and operates four ports along the River Humber, in Grimsby, Hull, Goole and the UK’s largest port by tonnage in Immingham.
Pictured: ABP Regional Director Simon Bird and British Steel Deputy CEO Paul Martin sign the Immingham Bulk Terminal Limited contract.