London Stansted Airport is set to undergo an expansion. Plans for this initiative were unveiled by UK prime minister Sir Keir Starmer at the International Investment Summit in London recently.
This investment will expand Stansted’s terminal by a third, opening new air routes to key business and holiday destinations.
Help businesses grow
The expansion plans already have planning permission and align with the previously approved limits on passenger and flight numbers.
It will boost local supply chains and enhance the UK’s global position. The funding includes $778.4 million (£600 million) for the terminal extension and $648.8 million (£500 million) for upgrades to the existing terminal and airport facilities.
The investment will also fund Stansted’s 14.3 megawatt on-site solar farm to meet the airport’s current and growing electricity needs. This comes after the recent addition of an electric vehicle charging forecourt at the airport.
Transport secretary, Louise Haigh says: “We have been steadfast in our commitment to help British businesses grow and in turn boost the UK’s economy. This announcement is a clear signal that Britain is open for business.”
Construction is expected to begin in 2025. The project will take between two and three years to complete.
UK’s international trade
The London Stansted Airport upgrade announcement comes just days after logistics giant DP World announced a $1.3bn expansion of London Gateway to become the UK’s largest container port within five years, boosting international trade.
The expansion includes two new shipping berths, bringing the total to six, capable of handling the world’s largest container ships. A second rail terminal will also be added to manage the expected rise in container traffic.
UK logistics market
The IMARC Group reports the rapid expansion of trade agreements and international business relationships, the escalating demand for efficient transportation and delivery services and the growing investments in warehousing, last-mile delivery, and fulfillment centers are among the key factors driving the UK’s logistics market growth.
“The pandemic further accelerated the e-commerce trend, pushing more consumers online and creating an urgent need for robust logistics solutions. As a result, investments in warehousing, last-mile delivery, and fulfillment centers have increased,” reads the report.
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Photo Credit: London Stansted Airport (Facebook)
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About the author
Sharl is a qualified journalist. He has over 10 years’ experience in the media industry, including positions as an editor of a magazine and Business Editor of a daily newspaper. Sharl also has experience in logistics specifically operations, where he worked with global food aid organisations distributing food into Africa. Sharl enjoys writing business stories and human interest pieces.
