Reference: 20170239
Release date: 7 April 2017

Promoter – Financial Intermediary

IRISH CONTINENTAL GROUP PLC

Location

Description

The construction and operation of one cruise ferry with capacity for 2,800 freight lane metres and 1,885 passengers and crew

Objectives

The project involves the construction of one cruise ferry for the promoter's fleet. The vessel will be constructed and operated to full EU and International Maritime Organisation (IMO) specifications and regulations. The vessel will also be constructed to EU environmental standards and equipped for operations within emission control areas. The vessel will be EU flagged and registered and is expected to be operating on the promoter's routes between Dublin and Holyhead as well as Dublin and Cherbourg.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 75 million

Total cost (Approximate amount)

EUR 155 million

Environmental aspects

The project would enable the promoter to reduce pollution and emissions through the modernisation of its fleet.

Procurement

The promoter is a private company not operating in the utilities sector, and is thus not covered by EU directives on procurement. The Bank will, however, review the promoter's processes during the project's due diligence. The promoter has conducted its procurement process via a number of well-established shipyards.

Status

Signed - 30/11/2017

Disclaimer

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

Related tags

Ireland Transport