€38m is to be invested by Shannon Foynes Port Company (SFPC), which currently helps to facilitate international trade valued at over €6bn yearly through the six port facilities on the Shannon Estuary.
The commencement of the redevelopment of the east jetty involves the reclamation of 13,500ms of foreshore and the demolition of the existing jetty. The new jetty will provide increased operational area of activity and lead to improved bulk discharge times. The redevelopment will also allow the use of larger cranes that can handle more varied cargo. It is estimated that a total of €12m will be spent by SFPC on this project in 2015.
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Another €22m was announced today by a private investor, CPL, in the construction of a new smokeless fuel depot. This plant is planning to meet the expected increase in future demand for smokeless fuels. In addition, a further €4m will be invested by a private operator, Argosea, in the construction of a 1,400 sq m warehouse for the storage of animal feeds. This will position the port to take advantage of the expected increased demand for animal feed, post the ending of the milk quota regime in March of this year.
(CD/JP)
