Teignmouth serves Devon's staple agricultural and ball-clay industries. In 2003, backed by a 10 year contract, Mole Valley Farmers consolidated its UK import operations on a dedicated site at Western Quay. Mole Valley Farmers has agreed to extend this agreement with immediate effect.

A new long term contract has also been negotiated with major port user WBB Minerals, which exports clay from their local quarries through the port.

In addition, new business has recently been secured with a 15 year contract to import cement through the port for Civil & Marine Slag Cement.

John Fitzgerald, ABP Port Director, Short Sea Ports, said, 'The decision to press ahead with such a major capital investment at Teignmouth demonstrates ABP's confidence in the long term role that short sea shipping plays in supporting local business. The project is backed by long term contractual commitments with quality customers who, likewise, have recognised the strategic importance of modern port facilities to support their future trade developments.'

ABP is also to make a further investment of £15 million in new plant and equipment for Humber International Terminal, Phase 2, which is currently under construction at ABP's Port of Immingham. The £15 million is in addition to the current £44.5 million project spend at the terminal, which will see the creation of a major extension to HIT, the Port of Immingham's deep water coal handling facility.

ABP is to invest in a second coal stacker reclaimer and ancillary equipment for the terminal following the signing of a new term agreement with Scottish & Southern Energy (SSE) to handle their coal imports from summer 2006.

The new plant will enable the terminal to handle the throughput the new business will bring, in addition to that which underpinned ABP's original investment in the facility.

MJ Information No: 20768