“This major investment is a signal of confidence from PD Ports that Teesside continues to be open for business.
“The port’s ability to handle larger vessels provides a welcome boost to capacity, and should deliver opportunities to grow international trade, and bring crucial jobs to our area.
“As the third largest port in the UK, Teesport is a critical artery for imports to the north of the country and a major player in our regional economy.
“Teesside has had an incredibly difficult eight months, but it is good news that our greatest natural asset, the River Tees, continues to attract investment. I hope that this project shows businesses across the global the massive economic potential that our area has.”