New law allows Port of Cork to expand

Cork will among 10 port authority companies who will be allowed to expand outside their own harbour under new legislation proposed by the Minister for Transport Noel Dempsey.

The minister said the publication of the Harbours Bill, 2008 would grant all port companies the power to invest outside their of current harbour limits and to pursue opportunities outside the State.

With this Bill, the 10 State port companies can pursue a robust commercial agenda, thereby boosting the commercial mandate given to them by Government in the Harbours Act, 1996.

“This important new legislation will help the 10 State port companies to grow and develop their businesses into the future. Notwithstanding the current economic slowdown, the port authorities should continue to plan for growth in the medium and long term. This legislation is designed to help them do that,” said Minister Dempsey.

The bill’s new provision on alteration of existing harbour limits of port companies is to facilitate the proposed port development at Bremore, County Dublin, and other port plans.

The number of directors on a port company board is being cut from 12 to eight, with the intention that one local authority member be appointed from among the minister’s statutory nominees.

There are also provisions to facilitate greater flexibility for port companies to borrow to fund additional port capacity, and functions relating to the compulsory acquisition of land by port companies will be moved from the Minister for Transport to An Bord Pleanála.

In the past 15 years, trade through Irish ports has grown from €28bn to €150bn.

John Whelan, chief executive of the Irish Exporters Association, said that Irish port capacity, despite substantial productivity improvements was reaching breaking point.

“Extensive investment is now necessary to ensure our ports can handle the new range of larger ships in an efficient manner. In this regard, we have fallen behind many of our foreign competitor’s ports,” added Mr Whelan.

Article courtesy of The Evening Echo newspaper