The Port of London Authority (PLA) has launched an Investment Plan to accelerate the delivery of the goals in the Thames Vision. The plan is to target three broad categories of investment: commercial investments supporting river/port use; long term investments with a long payback period, which also deliver public benefits; and public benefit investments.
The Thames Vision is a 20-year development framework for the river, created over 18 months from early 2015 to mid-2016. Across six goals, the Vision targets more river use, along with an improving environment.
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PLA chairman, Christopher Rodrigues CBE, said:
Our strategy as Custodians of the tidal Thames is to Protect, Improve and Promote. Together the Investment Plan and other developments make up a comprehensive package of innovation, investment and partnerships to deliver the strategy. In combination, they are set to make a genuine difference to the ongoing development of the Thames.
The first investment under the new PLA approach will be with CEMEX UK to improve ship unloading infrastructure at its Northfleet terminal. PLA will invest over £3 million in the installation of a new conveyor system at the site. The conveyor will enhance cargo discharge performance at the site.
Investments under the Plan will be focused on land acquisitions, river infrastructure development, environmental improvements, and public benefit projects supporting greater river use in all its forms.
The key criteria for assessing proposals have to meet at least one of the following:
- Generate more trade and more jobs, or secure existing economic activities on the river;
- Generate more inland freight on the river;
- Increase the number of passengers using the river;
- Generate more sport and recreation safely carried out on the river;
- Improve the environment and the habitat of the river, or immediately adjoining PLA riparian land;
- Increase community and cultural use of the river.
