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Displaying items by tag: Extra £5m

Ferry firm the Isle of Man Steam Packet Company is to have an extra £5m made available after the operator lost more than £10.5m last year.

As Manx Radio reports, the Isle of Man Government says the equity investment is designed to address the commercial impact of the coronavirus pandemic.

Treasury Minister Alf Cannan says the government-owned company has provided a vital service throughout the outbreak, but didn't claim government support despite the impact on its income.

The Steam Packet's full accounts for 2020 were published ahead of this month's sitting of Tynwald.

Published in Ferry

Shannon Foynes Port Information

Shannon Foynes Port (SFPC) are investing in an unprecedented expansion at its general cargo terminal, Foynes, adding over two-thirds the size of its existing area. In the latest phase of a €64 million investment programme, SFPC is investing over €20 million in enabling works alone to convert 83 acres on the east side of the existing port into a landbank for marine-related industry, port-centric logistics and associated infrastructure. The project, which will be developed on a phased basis over the next five years, will require the biggest infrastructure works programme ever undertaken at the port, with the entire 83 acre landbank having to be raised by 4.4 metres. The programme will also require the provision of new internal roads and multiple bridge access as well as roundabout access.