Jobs hope as port to expand with £29m investment

The ports business said an initial 15m would be spent on increasing terminal capacity from 235,000 twenty-foot equivalent units to 450,000 TEUs.

The investment is expected to create 50 jobs and a further 200 in the supply chain.

PD Ports will consider further significant expansion to at least 650,000 TEUs "subject to volume growth and market stability" which would position Teesport as a major player in the container market, it added.

Frans Calje, the managing director, said: "I am delighted to announce we will shortly commence work on the expansion of our container handling facilities at Teesport, which signifies a long-term investment in our unitised business, on the back of major growth opportunities.

"This will further improve performance and productivity for the port's growing number of customers."

Teesport container terminals have seen 62 per cent volume growth in the first six months of 2010 compared to last year, the company said. Users include Leeds-based Asda and Taylors of Harrogate.

Like its counterparts on the Humber, Teesport wants to diversify into renewables and capitalise on the massive investment in offshore windfarms planned for the North Sea.

The first phase of work begins in November.