Associated British Ports has rededicated its Alexandra Silo complex in King’s Lynn after a £750,000 investment and a new ten-year agreement with farmer co-operative, Openfield.
The investment was marked on Friday at a plaque unveiling ceremony hosted by ABP chief executive, James Cooper, and Openfield director of sales and trading, Mark Worrell.
It has been welcomed by North West Norfolk MP, Henry Bellingham, who described Lynn docks as a “vital part of our local economy”.
The port is crucial to the region’s farming industry and the investment will secure the future of the facility well beyond the length of the new agreement, ABP said this week.
This refurbishment takes ABP’s recent investments to support the regional farming industry, including the purchase of new grain-handling equipment, in the town to £1.2 million.
A study has revealed ABP’s East Anglian Ports of King’s Lynn, Lowestoft, and Ipswich, contribute £340m to the UK economy annually and support 5,000 jobs.
The silo, which was originally opened in 2000 at a cost of £3.8m, has handled more than one million tonnes of rapeseed, wheat, and barley over the last ten years.
The port regularly exports to Holland, Spain, Portugal, Ireland and France.
ABP director Short Sea Ports Andrew Harston said: “King’s Lynn plays a vital role enabling the region’s farmers to access global markets and this investment will secure the port’s continued success in the agribulks industry long into the future.”