Port of Cork: recognition for fundraising efforts
The port of Cork (Ireland) and its partners were ‘highly commended’ at the recent Seatrade Awards in the ‘deal of the year’ category in recognition of their work in securing the funding for the development of the new CCT in Ringaskiddy, which will open in 2020.
This funding for the EUR 80 million project was secured from a combination of sources including the Allied Irish Banks, the European Investment Bank (EIB), and the Ireland Strategic Investment Fund, as well as EU Connecting Europe Facility funds, and self-finance. EUR 1 million of the total capital secured is allocated to a community gain fund for the Ringaskiddy area.
The deal represents a major commitment in the Irish maritime sector and took two years to complete. As a key infrastructure deal, the project will increase future capacity at the port and the wider Munster region. (kd)