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EU Funding For Irish Port Projects Will Bring Significant Infrastructural Benefits - Donohoe

10th July 2015
EU Funding For Irish Port Projects Will Bring Significant Infrastructural Benefits - Donohoe

#IrishPorts - Transport Minister Paschal Donohoe has today (Friday 10 July) welcomed the announcement by the European Commission that a number of projects – including developments across three Irish ports – have been recommended for co-funding under the Connecting Europe Facility (CEF).

"This is good news and a further boost for infrastructure investment in Ireland," said Minister Donohoe. "The recommendation by the European Commission in respect of these five projects is a positive step in the development of these key infrastructural projects which will allow for future growth and development which will ultimately help with job creation.

“I was particularly delighted to support the port companies in their applications. Ireland’s National Ports Policy categorises the Port of Cork Company, Dublin Port Company and Shannon Foynes Port Company as Ports of National Significance (Tier 1) in recognition of the key role of they play in national economic development.

"This positive announcement will support significant, planned investment by the ports and follows the news that the Ringaskiddy project in the Port of Cork has recently been granted planning permission, while just today the Alexander Basin Redevelopment Project received a positive planning decision from An Bord Pleanála, allowing the largest ever infrastructure development project to be carried out at Dublin Port.

"In addition, Shannon Foynes Port Company’s first major project, the redevelopment of the East Jetty, is now well underway having commenced earlier this year. The continued commercial development of the port companies is a key strategic objective of the Government which will support job creation across the country as they are progressed in the years to come.”

The five projects are as follows:
· Port of Cork, Ringaskiddy Project (Project Type: Works, Co-funding rate: 17.47%, EU Max Contribution: €12,736,001.10)
· Shannon Foynes Port Company, Jetty Enhancement for Sea Port (Works, 20%, €2,200,000)
· Shannon Foynes Port Company, Connecting International Sea Cargo to the Irish Rail Network (Study, 50%, €800,000)
· Dublin Port, Alexandra Basin Redevelopment Project (Works, 10.3%, €22,782,055)
· City Centre Re-signalling Project (Works, 30%, €17,586,760.20)

Published in Ports & Shipping
MacDara Conroy

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MacDara Conroy

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MacDara Conroy is a contributor covering all things on the water, from boating and wildlife to science and business

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