#GreenorePort - Burke Shipping Group, the principal operating subsidiary of the Doyle Group, has The Irish Times writes acquired Greenore Port in Co Louth.
Previously the port was jointly owned by One51 and the state-owned Dublin Port Company. The price Burke Shipping paid for the port is not known but it is thought to be in the region of €5 million. Burke did not respond to requests for comment.
The company, which employs 300 people and has offices in all major Irish ports, is understood to plan to invest a substantial sum in improving Greenore. It will be the first significant port to be entirely privately owned in the Republic.
Burke Shipping plans to target the container and bulk shipping market and compete with the Dublin Port Company and other ports for this business.
Greenore is strategically located next to the Dublin-Belfast economic corridor, so it is capable of servicing both cities. For more on the acquisition by the group click HERE.
The group as previously reported were a potential bidder back in August.
More recently an investment in port infrastructure at their Dublin Port container terminal has further consolidated the company's business in the lo-lo sector.
