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Displaying items by tag: NAMA site plan delay

#SiteDelay - An €18 million plan in Cork Harbour to redevelop a key industrial site writes The Irish Times, faces a delay after the joint venture backing it withdrew its notification to the State’s mergers watchdog.

Port of Cork is leading a consortium that intends to buy the 114-acre Irish Fertiliser Industries’ (IFI) facility at Marino Point, close to Cobh, from the National Asset Management Agency (Nama) to redevelop as a facility to handle oil and farming products.

The port company and its partners, which include publicly quoted Origin Enterprises, withdrew their notification of the deal to the Competition and Consumer Protection Commission (CCPC) yesterday.

The move is likely to delay plans to redevelop the site, as deals on the scale they propose must get the commission’s approval before going ahead. Any plan for the IFI site will have to be notified to the commission again before proceeding.

For more on the story and that of the CCPC click here

Published in Cork Harbour

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