Developer of Thames Gateway sea container port says market conditions have affected it but contractor Laing O鈥橰ourke denies funding problems

The London Gateway port project in the Thames Gateway, which Laing O鈥橰ourke was to build for 拢1bn, is under review. The scheme was set to be the UK鈥檚 first 21st Century major deep-sea container port and Europe鈥檚 largest logistics park.

Mohammed Sharaf, the chief executive of the project鈥檚 developer DP World, said that he was 鈥渞eviewing all the numbers鈥� for Europe鈥檚 largest port and 鈥渋s working hard to make it happen鈥�.

He said: 鈥淟ondon Gateway is under review, like any other project, and we are looking at the feasibility. When London Gateway was approved, it was based on certain market conditions and certain market growth forecasts.鈥�

However, Ray O鈥橰ourke, Laing O鈥橰ourke chief executive, today denied there were funding problems. He said that the slow progress of the project had come from the team. He said: 鈥淧rojects the size of London Gateway will inevitably take a lot longer than what was said at beginning.鈥�

DP World announced that the first 13,000 vessel would call in London Gateway by spring 2010.

Shipping volumes between Asia and Europe fell 17% in January alone according data produced by the European Liner Affairs Association.

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