Associated British Ports’ Port of Newport is to invest £2.5m refurbishing its Atlantic Shed warehouse to provide additional covered space for its growing steel and bulks business.

The project takes the total for new investment by ABP in the docks at Newport to more than £10m in the past 18 months.

The programme of expenditure is a demonstration of the bright future of the port, which marks 100 years since the completion of the landmark South Dock and Lock with a celebration in July.

The Atlantic Shed project will provide 7,200 square metres of covered storage, principally for the steel business, as well as project and break-bulk cargoes.

Formerly used for ship building, the historic site is just the latest in the port to receive fresh investment. In recent months ABP has spent £1.1m on quay strengthening works, £1.7m on a new rail bridge and £1.6m on a Mobile Harbour Crane.

There has also been extensive investment in sustainable energy in the port, with a new £300,000 solar array and a further £3m being spent on a 125m tall, 2.3 mw wind turbine, which together will help supply a significant amount of the power required to operate the port.

Chris Green, assistant port manager, South Wales, said: "The volume of steel handled across our quayside is increasing, as are other aspects of the business such as general cargo, forest products and animal feed. We are committed to ensuring our facilities keep pace with that growth and give our customers room to grow their operations.

"I'm proud to say that as we celebrate the centenary of one of the biggest developments in the port's history, the completion of the South Dock and Entrance Lock, we continue to invest in the port's future prosperity.“

ABP is the UK’s leading ports operator with 21 ports and other transport related businesses creating a unique national network capable of handling a vast array of cargo.

According to figures from the Department for Transport, nine of ABP’s ports handle around 25 per cent of the UK’s major freight cargo. ABP contributes £5.6bn to the UK economy every year and supports 84,000 jobs. Our planned investment promises to deliver an extra £1.75 bn for the economy every year.

Over the next five years, ABP plans to invest over £650 million in a wide range of major projects across the group.