£1bn shipping terminal investment 'crucial to UK economy'

A new deep-water shipping terminal was opened at one of the UK's biggest ports today as part of a £1 billion investment programme creating 1,500 new jobs.

The new terminal at Felixstowe in Suffolk consists of two berths which are the only ones in the UK capable of handling the largest container ships on order.

The new facility will be equipped with seven of the largest container cranes in the world.

Around £60 billion of imports and exports pass through Felixstowe each year. The expansion of the port could add a further £20 billion to this figure.

Transport Secretary Philip Hammond said: "Ports such as Felixstowe are crucial to the vitality of the UK economy. This major investment shows that Britain is open for business and ready for the arrival of the world's largest container ships.

"It demonstrates how a focus on growth, innovation and encouraging private sector investment will help us to create the jobs that are so vital to the UK's recovery."