Bid Two: Rivals vie for huge windfall

The company has already started developing a major new port and logistics facility on its massive land holding on the south bank of the Humber.

Phase one of the project has been completed, creating a 300-acre vehicle storage site, with planning permission expected for the 1,500 acre, phase two site by the second half of this year.

Able said the most significant part of the Able Humber Port development is the deep-water quay, which could be up to one kilometre in length.

Neil Etherington, group development director, said: "It could have a variety of uses from port and logistics activities through to supporting the manufacture, assembly and installation of offshore wind turbines."

He said Yorkshire Forward and the local planning authority both supported the plan.

Mr Etherington said the quay would add to the overall UK port capacity.

Asked about a timescale for the development, he said: "This would be determined by what our clients are looking for. With a fair wind, we are looking at an approval process that could take up to two years. Construction process would take a similar period."

He estimated the quay would cost 200m. Mr Etherington said: "We will have to have clients to make this a reality. If we have real customers, we will go for it.

"We are talking to a number of companies across a number of sectors that have a view that the Humber is a place from which to do business."

Able, based in Teesside and best known for ship breaking, has said the proposals could create 5,000 jobs and attract 1.5bn of inward investment.

The South Humber Gateway is seen as the UK's fastest growing ports and logistics centre and is the largest site for development in the North of England facing a deep water estuary.

The land is already marked for industrial use in the local development framework.

Able said: "The project is already generating significant and complimentary commercial interest and enquiries – a situation that will escalate dramatically when the project is formally sanctioned – and offers considerable economic development opportunity on a national scale."

The company welcomed the Government's competition announcement in the last Budget for up to 60m worth of funding for port development.