London // London Gateway, the sea port and logistics park project being developed by DP World, will open in the fourth quarter of 2013, the firm said today.
The project will create 36,000 jobs, with an extra 1,000 jobs added to the economy in the coming months within construction and ports operation, the Dubai global port operator said.
"It will provide the UK with a premier, world class global trading centre," said Sultan Ahmed bin Sulayem, chairman of DP World.
"Our investment in London Gateway reflects our long term commitment to the UK and to our customers trading in this market."
DP World's commitment to the project represents a major shot in the arm for a sickly UK economy.
"The opening of London Gateway in just two years' time will transform the UK's maritime port infrastructure and play an important role in helping Britain's economy grow in the coming years," said Vince Cable, UK business secretary.
The port will open with an initial capacity of 1.6 million twenty foot equivalent container units (TEU), DP World said.
The world's third largest port operator has been laying the foundations for the project since early last year. It is expected to invest a further US$1 billion in London Gateway over the next three years.