by Alan Jacques
alan@limerickpost.ie
EU funding of €3 million for two Shannon Foynes Port Company (SFPC) projects will go towards transforming the Shannon Estuary into a national economic corridor.
The company will receive €2.2 million funding for its East Jetty Infill Programme at Foynes Port and a further €800,000 for its feasibility study for the regeneration of the rail link between Limerick and the port. The funding round is the first that SFPC will receive under the EU’s Trans European Transport Network (TEN-T) programme for transport infrastructure projects.
The East Jetty Infill Project is the first phase in a seven year programme of quayside infrastructure development. The east-jetty redevelopment will enable the company berth 40,000 ton vessels directly alongside the quay, leading to faster turnaround times for customers and, in turn, creating significant opportunities for growing cargo handling on the jetty in line with those projected in Vision 2041.
CEO of SFPC, Pat Keating has hailed the funding as a “major validation”. He said that the grant aid is the most significant acknowledgement yet of the credibility of the company’s masterplan and potential for advancing a major hub of economic activity along the estuary.
“Our Vision 2041 masterplan is all about capitalising on the unique advantage we have here on the estuary because of its unrivalled deep waters. Securing this funding is validation of Vision 2041 as a credible and achievable plan. The potential we have here on the Estuary is truly on a European scale,” Mr Keating commented.
He also believes that progress must be maintained on the N69 upgrade, another key pillar of the company’s masterplan.
“Now that we have this recognition from the EU of the strategic importance of the Shannon Estuary and our ports, we must keep the momentum going. A key focus must be advancing the N69 project as to retain our Ten-T status in the long term we need to have a suitable road network and the N69, as it stands, is not fit for purpose.
“We have the deep water, are developing the quay-side infrastructure, are very confident about the rail link and the last piece in the jigsaw will be the N69 upgrade. All these pieces coming together would create a ready-made solution ripe for indigenous and foreign direct investment.”
Just one in three applications for the latest round of Ten-T funding was successful and SFPC also received the maximum level of funding allowed – 20 per cent of jetty works total costs and 50 per cent for feasibility studies – for each project, another significant indicator of confidence in the company’s long-term plans for the estuary, said the CEO.
SFPC has also advanced the feasibility study for the Limerick to Foynes rail link regeneration. The €1.6m study includes site surveys of 83 structures on the line – including level crossings, bridges, underpasses – and 25 miles of track.
