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Displaying items by tag: MoU Signing

Shannon Foynes Port Company has signed a Memorandum of Understanding (MOU) with Norwegian Offshore Wind to provide a framework for collaboration on future projects.

Norwegian Offshore Wind is a cluster of 350 companies that cover the entire supply chain for offshore wind projects. Norway has been seen as a leader in such projects with 30GW of capacity expected by 2040.

Shannon Foynes is aiming to take advantage of the significant number of offshore wind projects expected to be developed around the Irish coast in the coming decades.

The agreement signed this week includes running shared events, sharing opportunities to do business and joint research projects.

For further reading, the Irish Examiner reports on the port company's signing.  

Published in Shannon Estuary

About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.