Port of Tyne debt investment

Ports play a key role in Regional and Local Economic Growth. They are often located in less prosperous regions and play an important role in economic growth in these areas. The UK Infrastructure Bank invested £50m in Port of Tyne as part of a debt refinancing package of up to £100m. This financing will help enable the regeneration and redevelopment of land that will provide a base for the growing number of green industries in the area, including offshore wind, advanced manufacturing and other renewable activities.  

These regeneration and redevelopment projects will help the Port move towards a cleaner and greener future. As one of the largest infrastructure assets in the region, the Port supports over 12,000 jobs, and UKIB’s financing will help ensure these jobs continue to be supported in the North East.

UKIB’s investment will help the Port deliver its ‘Tyne 2050’ strategic plan to become net zero by 2030, and position the River Tyne as a gateway for both regional and maritime transformation, fully aligned to the Government’s Maritime 2050 strategy and the North East Economic plan. 

UKIB’s investment has significant potential to enable wider net zero benefits by supporting the Tyneside area and the wider North East to transition to the green economy. The Bank’s financing will help facilitate the expansion of offshore wind deployment and renewables as well as further supporting the development of the local supply chain for these sectors. It will also bring strong economic benefits to the region, creating and supporting jobs in an area with below average employment rates and income levels.

Anne de Forsanz, UKIB Banking and Investments Director, said:  

We are proud to have supported Port of Tyne in raising a combined £100m debt financing package, allowing them to expand their investor base. It has been hugely rewarding to work with the Port and deliver an innovative debt solution providing long-term flexibility and capital expansion to cater for its development objectives for the next decade, which will have strong regional economic benefits in the North-East of England. The growth potential that this investment will foster is also particularly critical for the Port’s transformation as a clean energy industrial hub and for a growing offshore cluster on the Tyne. Our commitment to developing the UK’s port infrastructure will only grow stronger in the coming years as we support more strategic ports with financing the infrastructure upgrades needed to accelerate the renewable energy transition.