The Irish Exporters Association (IEA) yesterday welcomed the Government's decision to approve the development of a new €210 million deep water port at Bremore in north Co Dublin.
In a statement, the IEA said Ireland's national ports face a capacity crisis as a result of growth in exports and the increased trend towards outsourcing. It said the Bremore project was one of the most significant in the port sector and one that breaks new ground in attracting private-sector funding into Irish port development.
Minister for Transport Noel Dempsey last week agreed to make changes to the Harbours Act that would allow Drogheda Port Company to proceed with its plans to develop a new deep water port in a joint venture with Castle Market Holdings, a subsidiary of Treasury Holdings.
State-owned Drogheda Port will retain a controlling 51 per cent stake in the development, with Castle Market holding the remaining 49 per cent.
John Whelan, chief executive of the IEA, welcomed the co-operation between the public and private sectors, describing it as a much-needed method of introducing fresh capital into the development of Irish ports.
The port sector has been the subject of considerable speculation of late, with talk that the Government's decision to approve the Bremore development paves the way for Dublin Port to be moved. The Government, however, has said this wasn't necessarily the case. It is awaiting the results of a land review being carried out by Dublin City Council.
Dublin Port itself said this week it had its own plans for a €40 million expansion.
Land at Dublin Port has been of growing interest to developers in the past couple of years and gaining control of a significant port site is believed to be the motive behind Liam Carroll's stake-building in ferry group Irish Continental.
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