Displaying items by tag: NAMA site plan delay

4th October 2016

€18m Redevelopment Plan in Cork Harbour Faces Delay

The jetty alongside the former IFI plant (since dismantled) at Marino, Cork Harbour

#SiteDelay - An €18 million plan in Cork Harbour to redevelop a key industrial site writes The Irish Times, faces a delay after the joint venture backing it withdrew its notification to the State’s mergers watchdog.

Port of Cork is leading a consortium that intends to buy the 114-acre Irish Fertiliser Industries’ (IFI) facility at Marino Point, close to Cobh, from the National Asset Management Agency (Nama) to redevelop as a facility to handle oil and farming products.

The port company and its partners, which include publicly quoted Origin Enterprises, withdrew their notification of the deal to the Competition and Consumer Protection Commission (CCPC) yesterday.

The move is likely to delay plans to redevelop the site, as deals on the scale they propose must get the commission’s approval before going ahead. Any plan for the IFI site will have to be notified to the commission again before proceeding.

For more on the story and that of the CCPC click here

Published in Cork Harbour

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Shannon Foynes Port Information

Shannon Foynes Port (SFPC) are investing in an unprecedented expansion at its general cargo terminal, Foynes, adding over two-thirds the size of its existing area. In the latest phase of a €64 million investment programme, SFPC is investing over €20 million in enabling works alone to convert 83 acres on the east side of the existing port into a landbank for marine-related industry, port-centric logistics and associated infrastructure. The project, which will be developed on a phased basis over the next five years, will require the biggest infrastructure works programme ever undertaken at the port, with the entire 83 acre landbank having to be raised by 4.4 metres. The programme will also require the provision of new internal roads and multiple bridge access as well as roundabout access.