Port of Tyne secures £50m investment for regeneration plans
The Port of Tyne has been boosted by a £50m investment which will support its regeneration and expansion plans and help it move towards to "cleaner and greener future".
The financing, from the UK Infrastructure Bank, aims to redevelop the land that will provide a base for the growing number of green industries in the area, including offshore wind.
A number of additional projects are planned to help the Port, which provides 12,000 jobs, fulfil its strategic plan and become Net Zero by 2030.
The Port of Tyne is a "catalyst" for the region's green economy and "essential in supporting the UK in the green energy and automotive transition", said Port of Tyne chief executive Matt Beeton.
He added: "This investment will help us accelerate our internationally ambitious plans to ensure the port, the region and the UK have a firm foothold in these critical markets for generations to come."
John Flint, chief executive of UK Infrastructure Bank, said: "Renewable energy is key to helping the UK deliver on its net zero target and securing long-term energy security. The UK's offshore wind sector provides a major opportunity for regional and local economic growth and this investment will enable the Port to accelerate its expansion plans, supporting the green transition and creating high skilled jobs across the North East.
"If we are to deliver on our Net Zero ambitions, we must reimagine, repurpose and reinvent our old industrial heartlands and the Port of Tyne re-generation and expansion projects are a prime example of how to do this."
Minister for investment Lord Johnson added: "Regenerating the Port of Tyne will not only help the UK cement its role as a global leader in clean energy technology, but will be essential for levelling up the North East with high skilled, green jobs and local economic growth.
"The UK Infrastructure Bank has become an integral part of this country's Net Zero ambitions, delivering new and innovative ways to achieve sustainable growth."
News
Babcock Secures £114 Million Contract to Support First Nuclear Submarine Defueling Operations in 20 Years
Babcock have been awarded a three-year contract to prepare for the first nuclear defueling of a decommissioned Trafalgar Class submarine in over 20…
Become a member
We promote the interests of UK based companies in the international market place and to governments
Join US See the BenefitsNewsletter Signup
Keep up to date with all the latest news and events with our regular newsletter delivered straight to your email box.
Sign Up NowSeawork 2025
Seawork is Europe’s largest annual commercial marine and workboat exhibition, bringing together over 7,600 industry professionals, 10,500 items of equipment and services, together with over 70...Defence Attaché Luncheon
The Society of Maritime Industries will once again be hosting the overseas naval attachés & advisers based in London for a reception and buffet luncheon.DSEI 2025
Held at the easy to access ExCel exhibition centre every two years SMI has secured space in DSEI’s Naval Zone to support member companies. The Naval Zone at DSEI is an interactive...KORMARINE 2025
KORMARINE is the largest and most prestigious marine trade exhibition, fully supported by the world’s biggest Shipbuilders in Korea as well as leading international shipowners and offshore...Indo Pacific 2025
Attracting industry professionals from around Australia, the region and the world, Indo Pacific 2025 will see key players from the maritime and naval defence communities come together for three days...Europort 2025
Europort, organised in the world port city of Rotterdam, is the international maritime meeting place for innovative technology and complex shipbuilding. With an average of 25,000 professional...Marintec China 2025
Launched for over 40 years, Marintec China has become renowned as one of the most authoritative B2B platform for the International Maritime Industry. The 2023 edition of this biennial event...Asia Pacific Maritime (APM) 2026
APM (Asia Pacific Maritime) is the premier exhibition and conference in Asia showcasing a complete overview of the vessel sectors services and solutions, technology, vessel equipment, supplies, and...POSIDONIA 2026
Posidonia brings the whole shipping world to its exhibitors. The international shipping community attends in strength with national pavilions and thousands of visitors.SMM 2026 (Shipbuilding, Machinery and Marine Technology trade fair)
When it comes to meeting up with all the leading protagonists of the global maritime industry, there’s no place like SMM, one of the leading international maritime trade fairs.Sea Asia 2027
SMI will once again organise the UK Group Pavilion at Sea Asia in its role as the official Country Pavilion organiser. The event will return, bigger and bolder on 16-18th March 2027. To register...
Member Zone
If your company is a member of the Society of Maritime Industries a number of resources are available for which a log-in is required.
LoginResources
Access a wide range of documents, consultations and newsletters which we feel will aid your business activities.
Become a member
We promote the interests of UK based companies in the international market place and to governments
Join Us See the BenefitsNewsletter Signup
Keep up to date with all the latest news and events with our regular newsletter delivered straight to your email box.
Sign Up NowMarine Autonomy Challenge (MAChallenge)
This exciting biennial challenge is open to teams of students studying at UK universities.
Learn more