The Shannon Foynes Port Company has been approved for almost €4.5 million in EU transport funds.
Confirmation of the funding came this evening from Munster Fine Gael MEP Deirdre Clune, who is a member of the EU Transport Committee.
Two years ago Shannon Foynes Port received more than €3 million from the same EU fund. The latest grant of €4.5 million is to join the existing jetties at Foynes; infill an area behind these jetties and develop 90 acres of land for ancillary port storage and port related activities.
Ms Clune described it as not just a vote of confidence in the Shannon Foynes Port Company but also in Limerick and the wider Mid West region.
“The port has ambitious plans in place right up until 2041 and has been extremely successful in bringing together local stakeholders to drive trade to the region,” Ms Clune explained.
“I met with Professor Peter Balaz, who is in charge of Ireland’s ‘Connecting Europe’ facility funding, in the European Parliament and in Foynes this year. He was impressed with the professionalism and contribution that Shannon Foynes is making to the local economy in the South West of Ireland.
“This reaffirms the port as a serious player in the European market. Shannon Foynes facilitates €7.6 billion of trade in the region and is only one of three ports in the country designated with EU Ten T status,” Ms Clune explained.
The European Commission also announced that it is to invest €1 billion in 39 transport projects that will unlock a total of €4.5 billion of public and private co-financing.
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