Govt backing for port expansion

The €52 million first phase of redevelopment at Galway Port will be included in the Government’s Capital Development Plan, to be unveiled next month.
And Galway West TD Brian Walsh has vowed the Harbour Company “won’t be found wanting” when it comes to funding for the project.
Around €20m is expected to be raised by the Harbour Company itself through the sale of non-core assets and borrowing, while private investors, the EU and government will be ‘tapped’ for the balance.
The Fine Gael Deputy said Transport Minister Paschal Donohoe will be in Galway next month to discuss plans for the Port redevelopment.
A planning application is currently before An Bord Pleanála, pending an oral hearing.
Deputy Walsh said Taoiseach Enda Kenny will be committing to the plans by including it in the three-year Capital Development Plan to be published next month.
He told a joint meeting of Galway Harbour Company and Galway Chamber this week that he had received a commitment from the Taoiseach that the ambitious project would be included in the Government’s spending plan.
“The news represents a major boost for the redevelopment proposal, which is expected to create 190 jobs during its three-year construction phase and 55 permanent jobs after completion.
“Galway Harbour Company expects to raise approximately €20 million from its own resources towards the cost of the redevelopment project. However, €32 million will have to be provided by the Government, the EU or private investors.
“This is a big step towards addressing the funding deficit and paves the way for the plan to be progressed as early as next year, should planning be approved.
For more on this story, see the Galway City Tribune.