The agreement between Shepherd Developments, Helios Europe and Segro should pave the way for construction to start early next year on the strategic rail-freight park.
Developer Helios said the site, alongside the derelict Rossington Colliery, would provide a holding place for freight brought in by sea in containers before their contents are broken down into smaller units and distributed.
Despite being more than 40 miles from the coast, the Strategic Rail Freight Interchange will have customs facilities and bonded warehouses on site, meaning it is officially classified as a port.
Goods will mostly come from Felixstowe in Suffolk and will be freighted to the warehousing complex.
The partners will build up to 5.75m sq ft of rail linked distribution warehousing plus an intermodal container facility boasting both direct motorway access and rail to port container services.
A new access road from junction 3 of the M18 has also just been granted £18m from the government under the regional growth fund programme improve access to the site.
Mike Hughes, chief executive of Helios Europe, said that primary UK ports’ storage capacities are being stretched to almost breaking point through expansion, so there is substantial demand for intermodal inland port hubs of this nature.
The proposal would also contribute to reducing 5.5m lorry miles a year on motorway networks and 425,000 tonnes of carbon dioxide a year.