Warrenpoint Harbour Authority will build five new silos at the port to allow Quinn Cement boost exports to Britain following a new agreement between the pair.
The cement producer, part of Seán Quinn’s former manufacturing group, confirmed on Tuesday that Warrenpoint will invest £2.5 million sterling (€3.2 million) in building the silos.
Quinn Cement will use the port to increase its exports to Britian. The deal between the two will run for 10 years. The company is also expanding its storage and distribution centre in Rochester in England.
The manufacturer said that work will begin on Warrenpoint facility immediately and should be finished in September. Construction will employ about 20 people.
Quinn predicted that the increased export capacity should secure existing jobs and create new opportunities at its manufacturing bases in Ballyconnell, Co Cavan and Derrylin, Co Fermanagh.
Commenting on the agreement, Liam McCaffrey, chief executive of Quinn Industrial Holding described it as a "very significant" development that would allow it to serve the growing British construction market.
“I believe this is a strong message of confidence for both our organisations, the local economy generally and a clear demonstration of commitment to our customers.” he said.
Warrenpoint chief executive, Peter Conway, said that it would consolidate an already excellent business relationship between the harbour and Quinn Cement.