British Steel has completed a deal with Associated British Ports (ABP) to resume operational control of Immingham Bulk Terminal (IBT).
The facility, an integral part of British Steel’s operations, was operated by the manufacturer up until 2018 when its then owners agreed to pass control to ABP. Now British Steel is under the ownership of the Jingye Group, it has agreed to take back running of the terminal which handles millions of tonnes of its raw materials each year.
British Steel CEO Ron Deelen said: “The return to British Steel of an important strategic asset like Immingham Bulk Terminal is another significant step forward for our new business.
“IBT handles iron ore, coke and coal en route to our manufacturing headquarters in Scunthorpe so this deal strengthens our control over this vital part of our supply chain.”
The terminal, on the west side of the port, can handle up to 9 million tonnes of raw materials a year to support steel production. Under the terms of the agreement, 36 employees are transferring to British Steel from IBT Ltd, which is owned by ABP.
Ron Deelen said: “I’d like to welcome everyone into the business and look forward to continuing to work alongside ABP in an exciting new chapter in our history. With Jingye’s investment behind us, British Steel can play an important role in the future recovery of the UK economy.
“Our new owners have strengthened our global reach while domestically we’re ready to play a significant role in major infrastructure projects like HS2, which requires large quantities of high-quality products like our rail and constructional steel.
“Investing to improve the reliability and efficiency of our assets, including IBT, enables us to satisfy customer demand, further improve our quality and range, and provide a significant boost to the whole supply chain.”
Simon Bird, ABP Humber Director, said: “The Port of Immingham plays a vital role in the work of steel manufacturing in the Scunthorpe facility. As British Steel take over the running of the Immingham Bulk Terminal which handles the raw materials for the manufacturing process, it is good to know the Port will continue to be involved in what we hope will be a bright outlook for growth in steel manufacturing in the Humber for many years to come.”