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Ports of Dublin and Cork Approved for Multi-Million Euro EU Funding

17th July 2024
Dublin Port's grant is for EUR €73.8 million for the construction of basic port infrastructure to address the expected growth in ro-ro freight traffic
Dublin Port's grant is for EUR €73.8 million for the construction of basic port infrastructure to address the expected growth in ro-ro freight traffic.

The ports of Cork and Dublin have been sanctioned for multi-million euro grants in EU funding for sustainable, safe and smart transport infrastructure.

The grants come from the EU’s Connecting Europe Facility (CEF), the EU’s programme for strategic investment in infrastructure.

The European Commission said that it has selected 134 transport projects to receive over €7 billion in EU grants - representing the largest call under the current CEF Transport programme.

Ireland will receive EUR 157.5 million in funding for five projects.

Two of the five - Cork and Dublin ports - are national, while the other three are multi-country EU projects with participation of an Irish national entity.

Dublin Port's grant is for EUR €73.8 million for the construction of basic port infrastructure to address the expected growth in ro-ro freight traffic.

The project involves the construction of two inter-dependent berths (Berth 52 and Berth 53), double tier linkspans, and installation of shore-side electricity supply. The main benefit of the project will be increased efficiency of ro-ro operations, the European Commission says.

Ship to shore cranes at the Port of Cork's Ringaskiddy Port redevelopmentShip to shore cranes at the Port of Cork's Ringaskiddy Port redevelopment

Port of Cork is to receive EUR €38.4 million for phase 2 of the Ringaskiddy Port Redevelopment.

The project involves the construction of basic port infrastructure at the port of Cork to move port operations away from their current location in the city centre.

The main benefit of the project will be increased efficiency of operations in the port of Cork, the European Commission says.

In total, around 20 maritime ports in Ireland, Spain, Finland, the Netherlands, Germany, Malta, Lithuania, Cyprus, Croatia, Greece, and Poland receive support for infrastructure upgrades, some of which will enable them to supply shore-side electricity to ships, or transport renewable energy.

Around 83% of the funding supports projects that deliver on the EU's climate objectives.

They aim to improve and modernise the EU network of railways, inland waterways and maritime routes along the trans-European transport (TEN-T) network.

Minister for Transport Eamon Ryan said “it is good to see the award of significant CEF funding for projects at Dublin Port Company and the Port of Cork Company”.

“ Both port companies are designated as Tier 1 Ports of National Significance under National Ports Policy, and as “core ports” on the North Sea – Rhine – Mediterranean and Atlantic European transport corridors,”he noted.

“ It is vital that our ports develop modern, smart, sustainable, and resilient transport infrastructure for the economy, for connectivity and as vital hubs for our renewable energy transformation,”he said.

"The Port of Cork’s project will be capable of facilitating the offshore renewable energy industry with full planning permission already in place, while both Dublin Port’s project and the Port of Cork’s project also encompass plans for providing infrastructure for the installation of onshore power supply - showing how vital they are to our energy future,”Ryan said.

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As an island economy, a healthy maritime sector is key to our national competitiveness. Virtually all our imports and exports pass through Irish ports.

Ireland is dependent on ports and shipping services to transport goods and 90% of our trade is moved though Irish ports. Shipping and maritime transport services make a significant contribution to Ireland’s ocean economy, with the sector generating €2.3 billion in turnover and employing over 5,000 people in 2018.

Ireland’s maritime industry continues to grow and progress each year with Irish ports and shipping companies making significant investments. The ports sector in Ireland is currently undergoing a number of expansions and developments with Dublin Port’s Alexandra Basin development, the development of Ringaskiddy in Cork by Port of Cork and the development of Shannon Foynes Port. Along with these major investments, shipping companies are also investing heavily in new tonnage, with Irish Ferries, CLdN and Stena leading new build programmes.

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A recent study carried out for the Irish Ports Association (IPA) totalled 75.7 billion during 2004 and their net economic impact was some 5.5 billion supporting around 57, 500 full time employees.

Liam Lacey, Director of the Marine Institute’s Irish Maritime Development Office (IMDO) said, “The Irish maritime industry can look to the future with confidence. It has shown itself to be resilient and agile in responding to challenges. Over the past decade, it has had to respond to the challenges of the financial crisis of 2008, the uncertainty surrounding Brexit and recent challenges. Ireland’s maritime sector has continued to underpin our economy by maintaining vital shipping links for both trade and tourism.”