Port of Tyne invests $17 million to expand bulk capacity

Port of Tyne invests $17 million to expand bulk capacity    The Port of Tyne Authority, which operates the port on the River Tyne in the North East of England, will invest '10 million ($17.4 million) to expand the port’s bulk handling capability.
   The expansion plans include the deepening of the berth and channel, an extension of the port’s main conventional cargo facility, Riverside Quay, more operating equipment and the creation of a second rail siding.
   The port handles a wide variety of cargoes including non-ferrous metal, grain, steel plate, aluminum, peat, coal, timber, paper and project cargo. Shipments of coal in 2005 soared 540 percent to about 630,000 tons, from 115,500 tons of coal handled in 2004. Total cargo volumes reached four million tons in 2005, a 30 percent increase from the previous year, with volumes expected to double this year.
   The new rail siding will incorporate 1,120 meters of track, feeding directly into the 15 acre coal stocking ground. The port’s rail terminal is connected to the U.K.’s national network.
   Work will start in April and is scheduled to be finished 12 months later.
   The Port of Tyne Authority is a trust port with no shareholders or owners.