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Building work is set to take place at the dock's paper and newsprint handling facilities.
The news comes a day after government's latest unemployment figures reported 44% of those who lost their jobs last month were builders.
The new facility at Pollock Dock will shore-up the port's position as Ireland's leading bulk paper importer.
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Last year the business handled 137,000 tonnes of paper products, with regular shipping services from Scandinavia and Canada.
Port Chief Executive Joe O'Neill said: "Back in the 1990s the port began investing in bespoke facilities for trades such as paper and steel, giving us the opportunity to compete for and win customers well beyond the port's natural hinterland.
"The chances are that if you're reading this story in a newspaper then the newsprint you're holding in your hand came in through the Port of Belfast.
"While there may be a short-term dip in trade during the current economic climate, the long term prospects for the business are good," added Mr O'Neill.
Today's announcement is part of £630m capital investment plan for Pollock Dock, unveiled last year.
It is expected a new generation of facilities at the docks will be rolled out over the next 10-15 years.
(PR/JM)
