EIB commits €100m to Dublin Port ABR Project
Cargo volumes up 5.8% in first nine months, ferry passengers sail past 1.4m, Dublin Port on track for record year, the company said in its press release.
The Vice President of the European Investment Bank (EIB), Jonathan Taylor, will today meet with Dublin Port Company representatives to finalise financing arrangements for Dublin Port’s Alexandra Basin Redevelopment (ABR) Project. The Minister for Transport, Tourism & Sport, Paschal Donohoe, T.D. will also be in attendance to discuss Ireland’s long-term infrastructure development plans.
The EIB has committed to providing a €100m loan amortising over 20 years, reflecting the long-term nature of the ABR Project. This is the first time in 20 years for the EIB to finance port infrastructure development in Ireland and highlights the strategic significance of the project, which has a grant of planning permission from An Bord Pleanála. The largest single infrastructure development project in the history of Dublin Port, Dublin Port’s ABR Project is expected to take five years to complete, costing an estimated €230 million. An analysis by Indecon International Economic Consultants of the wider economic impacts arising from the ABR Project found that for every €1 million in economic costs, the project is associated with €2.80 million in economic benefits.