National Wealth Fund backs major port infrastructure projects with £200m commitment to ABP

The National Wealth Fund has today announced a £200 million commitment to support Associated British Ports (ABP), the UK’s largest port operator, to deliver a major infrastructure programme across its network, supporting growth, boosting jobs, strengthening local supply chains and creating new opportunities for business investment in coastal and industrial communities.

The Fund’s commitment sits alongside a commercial tranche from a group of private sector banks, led by Bank of America, as Sole Arranger and Bookrunner, together with Lloyds and NatWest, forming a £300 million total financing package. By providing a longer tenor facility, the National Wealth Fund’s financing allows ABP to better align the debt profile with the life of the projects being financed.

The structure of the commitment will help accelerate capital deployment across a number of nationally significant ABP projects, while enabling the National Wealth Fund to aggregate a range of smaller but strategically important investments, each of which will deliver considerable local and regional benefits. 

Eligible projects in the programme include a major new freight ferry terminal project at Immingham; a further upgrade to the Port of Lowestoft to support more offshore wind operations; infrastructure enhancement works at the Port of Ipswich to develop the local Sizewell C supply chain; and development of Solent Gateway to boost its capabilities for enabling trade and defence resilience.

More than 700 jobs will be supported and created through the programme of works. 

Ports are central to strengthening the UK’s trading capacity, thereby supporting its essential industries, technologies, and supply chains, and the clean energy transition. This is why the National Wealth Fund and the UK Government have identified ports as a priority for investment. Targeted investment and development in the sector will also bring jobs and growth to many of the country’s key industrial areas, regenerating parts of the UK that need it most.

Oliver Holbourn, CEO of the National Wealth Fund, said:

“One of the National Wealth Fund’s core ambitions is to accelerate investment and regeneration in the places and regions of the UK. This commitment is about more than upgrading or delivering infrastructure – it is about unlocking the long-term potential of places that have powered the UK economy for generations. By backing ABP’s investment programme, our capital is helping to create the conditions for new businesses to invest, local supply chains to grow and communities to benefit from skilled jobs, cleaner industry and renewed economic confidence for years to come.”

Henrik L. Pedersen, CEO of Associated British Ports, said:

“Associated British Ports is delighted to be partnering with the National Wealth Fund on this ground-breaking commitment. The National Wealth Fund’s strategic ambitions, innovative thinking and ability to commit over the long term make it uniquely positioned to support ABP's targeted major infrastructure investment programme. I would also like to thank Bank of America, Lloyds and NatWest for their involvement, a further expression of their ongoing support for ABP. The projects supported by today's transaction reflect the full span of ABP's twin missions - Keeping Britain Trading and Enabling the Energy Transition – unlocking growth and boosting jobs, prosperity and opportunity in coastal communities.” 

Karen Fang, Global Head of Infrastructure and Sustainable Finance and Co-Head of Global Capital Solutions at Bank of America, said:

“Our ongoing relationship with the National Wealth Fund reflects a shared commitment to enabling long-term investment that underpins economic growth and the enhancement of critical infrastructure in the UK. Supporting Associated British Ports through this financing programme demonstrates the role of strategic financing in port infrastructure modernisation, while strengthening regional supply chains and accelerating the transition to a more sustainable industrial base.”

Maritime Minister, Keir Mather said:

"Ports are the lifeblood of our economy – they keep us connected, keep us trading, and keep Britain moving. That's why I'm proud of this £200 million investment in Associated British Ports, which will deliver the major infrastructure, jobs and economic growth that coastal communities right across the country deserve."