A deal will be signed today between port operator DP World and construction companies to start building of the world's most advanced container port, the London Gateway, on the Thames in Essex.

Simon Moore, CEO, London Gateway, has said today "We need this primarily because we are short of deepwater port capacity, that was identified by the Government a number of years ago and, following a very intensive public enquiry process, London Gateway and DP World received its approval to move ahead just over 12 months ago."

He said they were now ready to award a construction contract to build the first phase of the port.

Commenting on the effect of the new facility on the UK economy, he said, "The increased competition is good news both for the shipping lines and for the end consumers,"

The new port would differ from many existing facilities in being combined with the largest logistics park in Europe allowing for more efficient movement of goods. Mr Moore said that the size of ships had changed and the new facility would "keep the UK connected to the M1 of world trade".