STOB.L Regulatory News (STOB)

14 Nov 2008 12:29



Stobart Group Limited

('Stobart')

Stobart Inland Port Development receives £4.3m grant and planning permission

Stobart Group announces today (14 November) that it has received a £4.3m grant from the North West Regional Development Agency ("NWDA") and planning permission to develop its Inland port at site, paving the way for 1,200 jobs.  

The grant will involve the remediation of 48.3 acres of under-used and contaminated land at the Mersey Multimodal Gateway (3MG) site at Widnes. The project will involve the Agency investing, via the Land remediation Scheme, in the costs of remediating the site to enable further development of the multimodal freight distribution facility.

Ultimately this will comprise the delivery of a 54,115 sq.m of floor-space for a new distribution facility, which is expected to be completed by 2010. The development aims to maximise the site's road and rail connectivity and will significantly improve the multi modal transfer of freight between road, rail and sea in the Merseyside area. 

 Andrew Tinkler, Stobart Group, Chief Executive commented:

"The continued development of our site at Widnes is in line with Stobart Group's vision to become the UK's leading provider of Multimodal transport and logistics solutions. Stobart ultimately aims to maximise rail freight opportunities as part of its strategy for the site to reduce road congestion and harmful emissions associated with road transport. 

"We are delighted with the support we have received from the NWDA and Halton Borough Council without which this development would not have gone ahead. Stobart Group looks forward to bringing more environmental improvements and employment opportunities to the people of Widnes and surrounding areas."

Peter White, NWDA Executive Director of Development, said:

"As one of the region's strategic regional sites, the NWDA recognises the potential of 3MG as a key employment location. Through enabling its remediation to bring it back into economic use, the Agency's investment will kick-start a major redevelopment that will help to significantly rejuvenate this area of Halton, lever in new private sector investment and create new job opportunities for the local community."

Halton Borough Council's Executive Board Member for Regeneration, Cllr Rob Polhill, remarked: 

"This is a tremendous opportunity for us to buck the national trend and bring more good quality jobs and opportunities into Halton. The regeneration of the West Bank Dock Estate area is vitally important for the entire borough as it is adjacent to the Silver Jubilee Bridge at the entrance to Widnes and Merseyside. For many years it has been unsightly and in a dilapidated condition and I'm pleased that this important investment by Stobart will go a long way towards improving the appearance of Widnes."

14 November 2008