Displaying items by tag: Calls for Major Funding

13th June 2018

Irish Ports: Calls Intensify for Major Funding Boost Post-Brexit

#IrishPorts - There are growing calls writes the Irish Examiner for additional funding to be given to ports to improve connectivity to continental Europe following Brexit.

Speaking at a joint Irish Road Haulage Association (IRHA) and Rosslare Europort conference in Wexford, EU Commissioner for Agriculture and Rural Development, Phil Hogan said that Brexit will happen and that its final model was the only question that remained.

He called for a doubling of capacity at Rosslare, and for all ports to examine capacity, adding the forthcoming EU regional policies from 2021 to 2027 represented an opportunity for funding for which the Republic must be ready.

President of the IRHA, Verona Murphy said that because the Europort in Rosslare represents the shortest sea route for goods and passengers to continental Europe, it was ideally positioned to expand and grow in a post-Brexit scenario.

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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.