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Plans to privatise Port of Dover

Posted by editor on Jan 28, 2010 - 10:36 AM
Filed under: Shipping, News

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The port of Dover is hoping to put itself up for sale and raise £400 million pounds of private capital to fund expansion, it was announced on Wednesday (27 January).

Dover Harbour Board has written to Transport Secretary Lord Adonis requesting that the port be privatised under the 1991 Ports Act so it can raise outside capital to build a new ferry terminal in the Western Docks.

It also plans to set up a charitable trust to channel funds to local community projects; a move which could appease likely local and political opposition to the privatisation.

Investment bank NM Rothschild is advising the Port on the planned sale.


© Hawkinge Gazette and Channel Coast News 2010

 


 

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