The Irish port sector has recently received EU support for future development and expansion plans.
Three of Ireland’s largest ports have secured a €39 Million collective allocation from the European Union’s Motorways of the sea and Ten-T programmes which will be used to fund their development plans.
Welcoming the announcement by the European Commission that a number of projects – including developments across the Irish ports – which have been recommended for co-funding under the Connecting Europe Facility (CEF) scheme, Minister Paschal Donohoe said "This is good news and a further boost for infrastructure investment in Ireland. The recommendation by the European Commission in respect of these five projects is a positive step in the development of these key infrastructural projects which will allow for future growth and development which will ultimately help with job creation. He added “I was particularly delighted to support the port companies in their applications. Ireland’s National Ports Policy categorises the Port of Cork Company, Dublin Port Company and Shannon Foynes Port Company as Ports of National Significance (Tier 1) in recognition of the key role of they play in national economic development.
Minister Donohoe went on to say "This positive announcement will support significant, planned investment by the ports and follows the news that the Ringaskiddy project in the Port of Cork has recently been granted planning permission, while just today the Alexander Basin Redevelopment Project received a positive planning decision from An Bord Pleanála, allowing the largest ever infrastructure development project to be carried out at Dublin Port. In addition, Shannon Foynes Port Company’s first major project, the redevelopment of the East Jetty, is now well underway having commenced earlier this year. The continued commercial development of the port companies is a key strategic objective of the Government which will support job creation across the country as they are progressed in the years to come.”
Commenting on the announcement of their successful application, Pat Keating CEO of Shannon Foynes Port Company said "Just one in three applications for the latest round of Ten-T funding was successful and SFPC also received the maximum level of funding allowed – 20% of jetty works total costs and 50% for feasibility studies - for each project, another significant indicator of confidence in the company’s long-term plans for the estuary."
Under the Connecting Europe Facility (CEF), €26.25 billion will be made available from the EU’s 2014-2020 budget to co-fund TEN-T projects in the EU Member States. Of this amount, €11.305 billion will be available only for projects in Member States eligible for the Cohesion Fund.
The four port related projects are as follows:
- Port of Cork, Ringaskiddy Project (Project Type: Works, Co-funding rate: 17.47%, EU Max Contribution: €12,736,001)
- Shannon Foynes Port Company, Jetty Enhancement for Sea Port (Works funding 20%, €2,200,000)
- Shannon Foynes Port Company, Connecting International Sea Cargo to the Irish Rail Network (Study, 50%, €800,000)
- Dublin Port, Alexandra Basin Redevelopment Project (Works, 10.3%, €22,782,055)
Source: www.dttas.ie August 2015