The difficulties facing Irish Fertilizer Industries (IFI) will be discussed today at a meeting between company executives and officials from the Department of Trade, Enterprise and Employment.
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Cost-cutting proposals aimed at saving 600 jobs at IFI will be put to the Tánaiste, Ms Harney, at the meeting. The future of the company's three plants in Cork, Arklow and Belfast is under threat due to the depressed state of the fertiliser market.
Any loss of jobs at the Cobh plant would be seen as a crippling blow to the area following job losses at the ISPAT steel works and Youghal Carpets.
Jobs are under threat at IFI - which is partly state-owned - due to falling fertiliser prices and rising production costs.
Labor Deputy for Cork North Central, Ms Kathleen Lynch, has called on the Tánaiste and Minister for Trade Enterprise and Employment, Ms Harney, to take all possible steps to ensure the continued operation of the Irish Fertilisers Industries plant at Cobh.
"The loss in wages and salaries from the closure of IFI has been estimated to be in the order of €11 million and this would have a serious knock-on impact on the entire local economy," said Ms Lynch.
"A relatively modest loan to IFI would get it over its current difficulties. The British government recently provided a loan of €410 million for British Energy, without objection from the EU, so there is no reason why the Government cannot act," she said.