The Port of Blyth has secured a £12m facility with Lloyds Bank that will enable the next phase in its expansion.
The UK Trust Port, having reported a 17% rise in turnover in April last year, plans to invest in its terminal infrastructure, build warehousing, strengthen quays and install new cranes.
The port has progressed significantly in recent years as base for offshore energy, hosting companies such as Royal IHC, Global Marine Group and DeepOcean.
The Offshore Renewable Energy (ORE) Catapult has a blade testing facility in Blyth, while EDF’s 41.5MW offshore wind farm demo is located off the coast of the port.
Port of Blyth finance director said: “The potential at the port across numerous sectors is huge, but to make the most of those opportunities and to ensure we continue to diversify our offering to protect the business’s long-term security, it’s crucial we invest now.
“This series of developments will facilitate a large number of new jobs on port land as we aim to double the number of those employed on site from 500 to over 1000 in five to 10 years.
“These ventures will also act as a catalyst for growth in the local economy and will no doubt stimulate inward investment into the town.”
Image: EDF Energy Renewables
Lloyds fills Blyth port coffers
By EBS