THE company responsible for the operation of Teesport said expectations for 2005 were high as it approaches its first full year as a plc.

PD Ports was upgraded from the junior stock market - the Alternative Investment Market (Aim) - to the main list earlier this month.

The company said it was anticipating a busy year as it awaited the results of the application for the £500m Victoria Harbour development, in Hartlepool.

The company said next year would also see more detailed work on the planning stages for the development of a deep sea port facility at Teesport, which could create up to 200 jobs.

PD Ports also expects to see the benefits of continued growth in export from steelmaker Corus' Teesside plant.

Teesport overtook London to become the second-largest freight-handling port in Britain two months ago.

Graham Roberts, group chief executive for PD Ports said: "The outlook for PD Ports in the New Year remains highly favourable and we very much look forward to the coming year with great commitment and a healthy enthusiasm."

The plc was formed earlier this year following a takeover.