The site will be between Barton Bridge and Irlam.
It will be the only inland water-served distribution park in Britain. Port Salford will offer container ship berths and have the capacity to double the number of container trains that serve the two terminals in Trafford Park. The project would be able to receive 16 freight trains every day.
Peel says re-routing Trafford Park trains away from Manchester Piccadilly would remove most freight traffic through the Oxford Road/Piccadilly corridor, allowing for more passenger trains.

Mr Butterworth added: "The scheme is part of Ocean Gateway, Peel's proposed £50bn investment strategy for the north west region.

Opposition "Peel's vision is to establish the gateway as a key source of new jobs, inward investment and sustainable development together with environmental improvement.
"This scheme ticks all the right boxes, in terms of taking freight off the roads, reducing CO2 emissions, creating jobs, using a brownfield site and making a substantial contribution to the improvement of the highway infrastructure."
Coun Derek Antrobus, Salford's planning boss, said: "This development will boost the economy by up to £83m a year and create around 2,000 jobs. It also makes a significant contribution to improving regional transport and frees up capacity at Manchester's Piccadilly Station."
But opponents say it will make their lives a 'living hell'.
Susan Simpson, head of Barton Residents' Association, said: "Already people are struggling to sell their houses and there's going to be a hell of a lot of negative equity. People are going to struggle to get to the road and it's going to take forever to get out of Barton."