History
London Gateway is located on the former Shell Haven site in Thurrock, Essex. The 1,500-acre (6.1 km2) site is a former oil refinery, which closed in 1999. However, the site has been used as a port since the 16th century.
DP World received Government approval in May 2007 for the development of London Gateway. The proposals were also identified by Gordon Brown as one of the four economic hubs essential for the regeneration of the Thames Gateway.
In May 2008, the Department for Transport issued a "Harbour Empowerment Order" for London Gateway, which provided official and statutory powers for the new port and established London Gateway as a legally recognised authority.
The future of the project was less certain after Moody's downgraded DP World's financial status to 'junk' in December 2009 in relation to the Financial crisis of 2007–2010 and associated financial problems for DP World's owners Dubai World. In January 2010, DP World announced its intention to seek a share listing on the London Stock Exchange in the second quarter of 2010 and was also given the go-ahead for construction of the port.
Read more about this topic: London Gateway
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