Port of Cork welcomes CEF funding of €38.4 million to expand Ringaskiddy facilities
European funding set to significantly enhance the Port of Cork’s operating capacity.
EU funding programme, the Connecting Europe Facility (CEF) has awarded €38.4 million to Port of Cork Company for the construction of two quay berths at its deepwater site in Ringaskiddy.
The Connecting Europe Facility is a key EU funding instrument to promote growth, jobs and competitiveness through targeted infrastructure investment in the fields of transport and energy at European level.
The funding positions Port of Cork Company a step closer to realising its potential for offshore renewable energy with increased capabilities.
The funding is earmarked to enable PoCC to accommodate a larger volume of vessels, while increasing throughput efficiency and ability to serve a broader range of international customers, reinforcing PoCC’s position as a key player in European and international maritime trade.
Donal Crowley, Interim CEO of the Port of Cork Company, stated: “This funding granted by the Connecting Europe Facility marks a significant milestone towards realising our Masterplan 2050 ambitions and supporting the crucial development of Offshore Renewable Energy infrastructure.
“We are grateful for this investment which will play a crucial role in bolstering the Port of Cork’s infrastructure and operating capabilities to help meet the demands of an ever-evolving global shipping industry.”
Port of Cork will invest the funding in its capacity and operational capabilities with the construction of two berth expansions: Ringaskiddy East – Cork Container Terminal Berth Extension (CCT2) and Ringaskiddy West – Deepwater Berth Extension (DWB).
The Ringaskiddy East project will see a 200m extension to the existing container berth, with associated works including capital dredging to -13mCD, piling, quay deck construction, quayside utilities, and On-Shore Power Supply infrastructure.
The Ringaskiddy West project will consist of an 182m extension to the existing deepwater berth, with associated works including capital dredging to -13mCD, piling, quay deck construction, quay utilities, and OSP infrastructure.
PoCC’s Cork Container Terminal (CCT) which opened at Ringaskiddy in 2022 costing €94m was also supported by CEF funding, in conjunction with EIB and AIB National Bank financing.
About Port of Cork Company
The Port of Cork is the world’s second-largest natural harbour and a key international trade gateway. It is the key seaport in the south of Ireland and is one of the three Ports of National Significance (Tier 1) as designated by National Ports Policy.
The National Ports Policy mandates Tier 1 Ports to lead the response in meeting Ireland’s future port capacity requirements. In this capacity, the port is also central to the national economic growth given that national ports handle approximately 90% of all imported and exported tonnage in Ireland.
As a multi-model port it is only one of two ports in Ireland to service all six shipping modes – lift on/ lift off, roll-on/ roll-off, liquid bulk, dry bulk, break bulk and cruise.
The Port of Cork Company (PoCC) is a commercial semi-state company responsible for the broad range of commercial running of Cork harbour as well as the navigation and berthage in the port.
In 2022, the Ports of Cork and Bantry reported a total consolidated traffic throughput of 10.2 million tonnes. The PoCC’s direct workforce is 170 staff, however, it supports thousands of jobs through indirect employment through warehouses, hauliers and shipping agents.
PoCC is a hugely important catalyst for trade and employment, offering direct connectivity to a global supply chain, particularly for FDI. 35 of its top customers are from industries such as Med-Tec, Pharma, IT, chemical and Agri-Food accounting for €145 billion of manufacturing and supporting over 45,000 jobs directly in the southwest region.
