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    Reference: 20150383
    Release date: 4 February 2016

    Promoter – Financial Intermediary

    Port of Cork Company



    Expansion of facilities at the Port of Cork's deep-water port in Ringaskiddy. The Port of Cork is a designated 'core' port under the TEN-T Guidelines and a 'Tier 1 Port of National Significance' under the Irish Government's National Ports Policy.


    The main objective of the project is to enable the Port of Cork to build the necessary infrastructure to cater for future growth requirements and shipping trends towards larger vessels. The project will expand the capacity of the deep-water port at Ringaskiddy enabling the Port of Cork to relocate operations from the Upper Harbour, where the depth of the water channel and width of the river are significant constraints to the size and number of vessels that can access port facilities.


    Proposed EIB finance (Approximate amount)

    EUR 30 million

    Total cost (Approximate amount)

    EUR 88 million

    Environmental aspects

    A strategic environment assessment (SEA) was undertaken in accordance with Directive 2001/42/EC by Cork County Council in 2014 as part of the Cork County Development Plan. This SEA formed the basis for the development objectives for the Ringaskiddy project. The SEA recommended the Ringaskiddy site as the preferred location for relocation of port facilities from sites in the inner harbour near the City of Cork. An environmental impact assessment (EIA) in accordance with Directive 2011/92/EU was undertaken for the project by the promoter, the Port of Cork Company (POCC). A Natura impact statement was prepared and an appropriate assessment was undertaken in accordance with the Habitats Directive 92/43/EEC and the Birds Directive 79/409/EEC. The proposed project works do not lie within any Natura 2000 designation area, but they are in close proximity to a number of sites. The appropriate assessment concluded that the proposed project with the implementation of the prescribed mitigation measures would not give rise to significant impact, either individually or in combination with other plans and projects, in a manner which would adversely affect the integrity of any designated site within the Natura 2000 network. A significant level of consultation took place with statutory consultees and relevant bodies as part of the development of the Ringaskiddy Port Redevelopment proposals. A programme of public consultation concerning the Ringaskiddy Port Redevelopment project was also undertaken in April 2013 and February 2014 to seek the views of the wider public on the proposal.


    The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.


    Signed - 20/12/2017


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Ireland Transport