Foyne Port Expansion Underway
- Business & Finance
Ireland’s bulk port company Shannon Foynes Port Company (SFPC) has launched a EUR 50 million (USD 56.7m) capital investment programme at Foynes, the first major infrastructure project in any seaport in Ireland since the 1990’s.
As part of the port company’s Vision 2041 masterplan, SFPC will commence a seven year programme in quayside infrastructure development with a EUR 12.5 million (USD 14.2m) investment in infilling of 3.45 acres on the port’s East Jetty, with work beginning this month.
Preliminary works for Phase II – connecting the East and West jetties – have already commenced, with the third phase, the reclamation of a further 2 hectares, to commence on the completion of Phase II. All three phases will add over 35,000m2 and additional berthage when completed.
The new open quay storage area on the east-jetty will enable the company berth 40,000 ton vessels directly alongside the quay, leading to faster turnaround times.
The infill programme first phase will require 65,000m3 of infill and will be completed in 12 months. The contract for the East Jetty expansion has been awarded to Kilrush, Co. Clare based civil LMN Keating.
Funding for this capital investment programme is already in place, the majority from SFPC’s own reserves with some external finance.
SFPC Chief Executive Officer Pat Keating said: ”The investment we are announcing is necessitated by significant growth at Foynes, our largest port, with tonnages almost back to the peak of 2006. We are reaching capacity at the East Jetty and this investment will facilitate significant additional growth at the port.”