“Having worked with CPL, the private investor who is contributing €22 million of the €38 million to the Shannon Foynes Port Company (SFPC), I realise the hard work and dedication that went into bringing this deal to life”, says Patrick O’Donovan, Fine Gael TD for Limerick.
“The Minister for Transport, Tourism and Sport, Paschal Donohoe TD, today (Monday) visited Foynes to announce the investment of €38 million by the Shannon Foynes Port Company (SFPC), Ireland’s largest bulk port company
“The first major project is the infilling of the East Jetty in Foynes; a 12 month project employing up to 150 people during construction. The redevelopment of the east jetty involves the reclamation of 13,500ms of foreshore and the demolition of the existing jetty. This will provide increased operational area of activity and lead to improved bulk discharge times. It is estimated that a total of €12 million will be spent by SFPC on this project in 2015.
“CPL will also invest €22 million to construct a new smokeless fuel depot to meet the expected increase in future demand for smokeless fuels. Another private operator, Argosea, will also invest €4 million in the construction of a 1,400sqm warehouse for the storage of animal feeds to take advantage of the expected increased demand for animal feed, when milk quotas come to an end in March.
“The Shannon Foynes Port Company plan to double their trade over the next three decades and today’s announcements mark a major step in that direction.
“The SFPC is a hugely valuable employer to the west Limerick area. I warmly welcome the news of such major investment which will provide new opportunities to people in the local area.”