Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Verizon wins private 5G contract for UK's Thames Freeport

Published by Global Banking and Finance Review

Posted on June 25, 2025

Featured image for article about Finance

(Reuters) -Verizon Business has won a contract to build multiple private 5G networks at Thames Freeport, one of Britain's busiest shipping and logistics centers, the U.S. telecom giant said on Wednesday.

The deal, in partnership with Finland's Nokia, will see Verizon deploy private 5G networks across multiple industrial sites along the River Thames Estuary, including major ports and Ford's largest London manufacturing facility.

Private 5G networks provide dedicated connectivity that avoids the congestion and speed variations of public networks shared by multiple users, enabling advanced industrial applications, such as artificial intelligence (AI).

5G adoption in European ports is still at an early stage. The technology allows ports to handle larger volumes of data needed to run or track cargoes, cranes, drones and industrial sensors.

The companies did not disclose financial details of the agreement, only describing it as supporting a "multibillion-dollar operational transformation" of the region.

Thames Freeport is a 34 km-wide economic corridor established in 2021 as a designated UK "Free Trade Zone", offering a range of tax incentives and reliefs to businesses as part of efforts to revive the Thames Estuary region.

Verizon has been working with Nokia to develop private networks for manufacturing and logistics companies in international markets where it lacks its own public network infrastructure.

Nokia will serve as the sole hardware and software provider.

The networks will serve DP World London Gateway and DP World Logistics Park - Britain's largest deep-sea container port handling over 3 million units annually -, the Port of Tilbury and Ford's Dagenham plant.

Use cases will include AI-driven data analytics, predictive maintenance, process automation, autonomous vehicle control, safety monitoring and real-time logistics orchestration, Verizon said.

(Reporting by Gianluca Lo Nostro in Gdansk; Editing by Matt Scuffham)