DP World to Proceed with London Gateway Investment

DP World has confirmed it will proceed with a £1 billion ($1.3 billion) investment in its London Gateway port, following a brief pause amid criticism from UK ministers regarding its subsidiary, P&O Ferries. Business Secretary Jonathan Reynolds announced that the investment will go ahead after constructive discussions with DP World. The controversy arose after Transport Secretary Louise Haigh labeled P&O Ferries a 'rogue operator' due to its decision in 2022 to lay off 800 staff and hire cheaper agency workers, prompting backlash from unions and politicians. Despite earlier reports suggesting that DP World might withdraw from the investment and the upcoming International Investment Summit, the company will participate in the event. DP World aims to create 400 jobs with this investment, which is a key focus for the government as it seeks to attract further investment into the UK economy.