€100m financing confirmed over 20 years for Dublin Port redevelopment programme

Finance | Fri 23 Oct | Author – Business & Finance
ABR Project Dublin Port
Pictured (L-R): Eamonn O’Reilly, chief executive, Dublin Port; Lucy McCaffrey, chairperson, Dublin Port Company, Paschal Donohoe TD, Minister for Transport, Tourism and Sport; and Jonathan Taylor, vice president, European Investment Bank

The European Investment Bank has committed €100m to Dublin Port’s Alexandra Basin Redevelopment (ABR) Project.

Dublin Port’s ABR Project aims to increase the port’s ability to handle large ships by deepening and lengthening three kilometres of the port’s 7km of berths.

It is the largest single infrastructure development project in the history of Dublin Port.

Vice president of the European Investment Bank (EIB), Jonathan Taylor, met with Dublin Port Company chairperson Lucy McCaffrey, chief executive Eamonn O’Reilly and the Minister for Transport, Tourism and Sport Paschal Donohoe, TD yesterday to finalise €100m financing over 20 years for Dublin Port’s ABR Project.

It is predicted 2015 could be a record year at Dublin Port. New figures released for Q3 2015 show cargo volumes rose by 5.8% in the first nine months of the year and ferry passenger numbers reached over 1.4 million.