A new logistics hub in Dover could create as many as 600 jobs.
The news comes following the government's approval of plans to redevelop the western dock area. It is expected the new base will attract cargo shippers, shipping lines and supply chain partners to the area.
Plans to develop the western dock area to accommodate all freight transport will also free up the eastern side to take on more passenger ferries and further increase revenue for the port. The waterfront would also be transformed, with the possibility of creating a new marina.
Dover Harbour Board chairman George Jenkins commented: "The people of Dover have waited long enough for its revival. That revival could start right now, breathing new life into our port and into our community."
Currently, the docks are served by three cargo vessels which operate on a weekly basis. It is hoped the new development would significantly increase this amount.
The Harbour Board did not reveal the exact timeframe for the project to be completed, nor the amount of funding required. It did comment that funds would come directly from its own pocket, through borrowing and from inward investment.