Rainham Steel Company plans to invest around £3.5m into developing the Althorpe Wharf site in Keadby over the coming year eventually leading to 60 new jobs.

The business already services the UK, European and world markets from a 70 acre site and distribution facility in Scunthorpe and its head office in Essex.

The land had previously been used by RMS Trent Ports Limited to stock a variety of mainly bulk and steel based imports and exports.

Francis Micallef, Operations Director at Rainham Steel said: “This is a really exciting announcement as we are going to be making a significant investment into this site to transform it into a northern reinforcement bar manufacturing site, adding to a similar one we have down south.

“We’ll initially be creating around 20 new jobs at the site, and we expect that number to increase to around 60 new jobs over the course of the year, as the site becomes fully operational.”