Immingham port to get £65m steel investment
North East Lincolnshire CouncilA Humber port is to spend £65m in expanding its steel shipping operation.
British Steel has agreed to transfer its facilities at Immingham port to the dock's owner Associated British Ports (ABP).
As part of the investment ABP will install additional ship berths and extra cranes.
The North East Lincolnshire port handles more than 5.5 million tonnes of iron ore, coal and coke which is used at British Steel's Scunthorpe factory.
The 45 workers currently working for the steel maker will be transferred over to ABP and the company said it expected "that a limited number of additional jobs will be created".
British Steel's chief financial officer Gerald Reichmann said the deal would allow the firm to "focus on our core steelmaking operations".
"As well as investment, the agreement will give us access to additional berthing opportunities to support our current requirements and enable further growth," he said.
British Steel was formed in June 2016 after Greybull Capital bought assets from Tata Steel.