The proposals passed by Salford City Council's planning bosses are estimated to boost the local economy by up to £83 million a year and will create around 3,000 jobs.
The development, put forward by Peel Investments (North) Ltd will be a 116 hectare international trading destination at Barton, on land between the ship canal and Liverpool Road in Eccles.
Around five per cent of the UK's container ships will use the port which will enable goods to be transported from all over the world by water, rail and road.
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Once this facility is completed it will take up to 21 million kilometres of lorry journeys a year off the north west's roads, through goods being moved by ship and rail.
Councillor Derek Antrobus, Salford City Council's Lead Member for Planning said: "This is a very promising opportunity for Salford's future which harks back to the city's industrial heyday.
"By bringing back the Manchester Ship Canal as a working waterway Salford's history is helping us to invest today to secure the best possible future for the city.
"We recognise the importance that a development like this can have on a city's economy and it also makes a significant contribution to improving regional transport and releasing capacity at Manchester's Piccadilly Station.
"This is another major development in Salford and shows just what a good place it is to invest and do business in."
The Planning Panel imposed strict conditions in approving the plans to satisfy local concerns about possible noise and air pollution and asked that representatives of the local community be involved in monitoring the operation of the new facilities.
(CD/JM)
