A transport giant has secured a £4m finance package from HSBC to support the development of its new filling station services and truck stop on the A1(M) at Leeming Bar.
Work on the Exelby Services project has started and is expected to be complete by September.
The £6.5m project will create a service area to meet specialist HGV refuelling and rest needs including 150 secure parking facilities; it will lead to 15 new jobs.
Exelby Services and its sister company Londonderry Garage have switched full business banking to HSBC’s North East Corporate team as part of the deal, which was led by senior corporate banking manager Chris Bennett.
Exelby Services was established in 1976 by current chief executive Michael Exelby’s father, Ron, and pioneered fuel bunkering - a contract diesel refuelling system which allows haulage companies to make large savings on the cost of diesel.
It now operates from two sites on the A19 south of Teesside, at junction 42 of the M6 at Carlisle and a site at junction 31 of the M62 near Castleford.
The company handles more than 120 million litres of fuel each year and stores diesel for most of the major transport, distribution and fuel card companies at its sites.
Turnover at the company, which employs 60 people, has grown to £38m and it is expected that the new site will increase turnover by 30%.
Michael Exelby said: “We have been working for over 10 years on this project. It has been a long journey but we are delighted and excited to have finally broken soil on the site.
“The new facility is vital for this stretch of the A1(M) because more than five service areas and 200 HGV parking spaces have been lost due to the motorway upgrade.”
He added: “I’d like to thank HSBC for its support with this project.
“Chris and the team at the bank recognise the benefits this new development will bring to Exelby Services and have shown confidence in our company.”
Chris Bennett added: “Exelby Services is a business that has shown time and again that it can adapt and flourish.
“Michael’s father Ron first devised fuel bunkering after the construction of the Londonderry bypass in the 1960s and they have shown that they can take a potential negative and turn it to their advantage.
“The passion they have shownin bringing this project to fruition is testament to the strengthand ambition of the manage-ment team.”