National Wealth Fund backs major port infrastructure projects with a £200 million commitment to Associated British Ports

The National Wealth Fund has announced a £200 million commitment to support Associated British Ports (ABP), the United Kingdom’s largest port operator, in delivering a major infrastructure programme across its extensive network. 

This investment would drive growth, create and sustain jobs, strengthen local supply chains, and open new avenues for business investment in coastal and industrial communities.

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.”

Financing package and strategic structure

The National Wealth Fund’s commitment is part of a broader £300 million financing package, which includes a commercial tranche led by Bank of America as Sole Arranger and Bookrunner, alongside Lloyds and NatWest. 

The Fund’s longer tenor facility enables ABP to better align its debt profile with the lifespan of the infrastructure projects being financed, facilitating accelerated capital deployment.

This financing structure allows the National Wealth Fund to aggregate a portfolio of smaller yet strategically significant investments, each delivering substantial local and regional benefits.

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.”

Keir Mather, UK Maritime Minister, added, “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.”

Key infrastructure projects supported

The infrastructure programme encompasses several nationally significant projects, including:

Freight ferry terminal at Immingham. A major new facility designed to enhance freight handling capabilities.

Port of Lowestoft upgrades. Further enhancements to support increased offshore wind operations, contributing to the UK’s clean energy transition.

Port of Ipswich infrastructure works. Development aimed at bolstering the local supply chain for the Sizewell C nuclear power project.

Solent Gateway development. Expansion to improve trade facilitation and strengthen defence resilience capabilities.

Collectively, these projects are expected to support and create more than 700 jobs, contributing to economic revitalisation in key coastal regions.

Ports play a central role in strengthening the UK’s trading capacity, underpinning essential industries, advanced technologies, supply chains, and the nation’s transition to clean energy. 

Recognising this, the National Wealth Fund and the UK Government have prioritised investment in port infrastructure to stimulate economic growth and job creation, particularly in regions requiring regeneration.

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.”

The National Wealth Fund’s £200 million commitment to ABP is a pivotal investment in the UK’s port infrastructure. It would support economic growth, job creation, and the clean energy transition.