Council to consider investing another £4m in port

Thanet District Council is looking for an operator to take on the Port of Ramsgate

Councillors in Thanet are considering investing another £4.12m in the Port of Ramsgate.

The money would be moved over from two other levelling up projects.

Labour-run Thanet District Council will consider the plan at a cabinet meeting on Thursday, when it will also review progress on appointing an operator for the port.

If the switch is made, it will bring the total available budget for the port to £7.2m.

The new cash would come from £3.55m allocated to improving fishing facilities and £570,000 initially intended for an overnight accommodation project.

The report proposes £4.5m of the money is offered to whoever gets the concession to operate the port to cover the costs of work which needs to be carried out to bring it into use.

In return, the holder of the concession would be granted a 20-year lease, with an option to extend by another five years.

Council leader Rick Everitt said the port is a "hugely important asset" for Thanet and "strategically important" for the country.

He added: “We have an opportunity to get the port to a position of financial stability and sustainability.

"It could result in steady income for the council and additional resilience for UK freight logistics. It’s important that we get this right."