Dublin Port to receive a €100m loan by the European Investment Bank

The European Investment Bank is to provide a €100m loan for redevelopment of Dublin Port.

The funding will part-finance the €280m Alexandra Basin project which aims to allow the capital's port handle 60 million tonnes of cargo by 2040.

Dublin Port is already on track for a record year with cargo volumes up 5.8% in the first nine months of the year - driven by new car sales and 1.4 million ferry passengers.

This is the first time EIB have financed port infrastructure development in Ireland in about 20 years and highlights the strategic significance of the project.

It is the largest single infrastructure development project in the history of Dublin Port.