The Port of Tyne will be investing £150m ($177m) to add 400 m of deepwater quayside to support the offshore wind sector.

The programme will transform 930,000 sq m at the north and south banks of the Port of Tyne into the Tyne Clean Energy Park and add 400 metres of deepwater quayside.

An independent study by WSP suggests that this scheme could potentially create up to 12,000 new jobs and contribute more than £5.6bn ($7.6bn) to the local and UK economy in the years ahead.

The plan for Tyne Clean Energy Park includes a kilometre of both new and redeveloped deepwater, heavy lift quay to facilitate an industrial strategy zone.

The development will focus on supporting the fast-growing offshore renewables, clean energy and advanced manufacturing sectors.

Phase one, Howdon Quay, with a 2,140 sq m warehouse and a dedicated berth, is already complete and ready for business following a £6m ($8.1m) redevelopment.

“Accelerating offshore wind, renewable energy, and advanced manufacturing is a national priority and requires decisive action.  Boosted by Industrial Strategy Zone status that provides similar benefits to a modern freeport, our expanded Tyne Clean Energy Park is uniquely positioned to support this UK-wide initiative,” said Matt Beeton, Port of Tyne CEO.