Plan for development of docklands meets strong opposition
The company has sought expressions of interest for the 44 acres covering the inner docks area. Port users have objected to the sale.
The port company insist the sale is necessary to raise more than €100 million needed to improve shipping facilities in the Shannon Estuary.
Leading property developers are believed to be queuing up to buy the lands.
The port company says shipping currently coming into Limerick docks can be adequately handled at Foynes, 24 miles away.
Brian Byrne, chief executive of the company said they had received in excess of 12 very significant offers from different developers and were going over these in detail, before bringing any proposal to the board.
He said: “We are going through these expressions of interest and engaging with the people who have expressed interest. There has been a very warm and encouraging response to the campaign we had. We now are engaging with a short list to separate the wheat from the chaff. We have cancelled all summer holidays to get through this very important work.”
Mr Byrne said he wants to bring a comprehensive report to the board and he expected to have this ready for the September meeting.
The company also needs to raise money to deal with an €11 million pensions deficit which affects more than 160 former employees.
Mr Byrne said they have an open door approach as far as port users at Limerick docks who are opposed to the sell off.
Liam Woulfe of Grassland fertilisers who is leading the campaign opposed to the sale claims it will not be possible for companies such as his to transfer their operations to Foynes.
The Mayor of Limerick, Cllr Joe Leddin has also pledged his support to those opposed to the sale.
It is believed that leading property developers have put detailed proposals to the port company, seeing it as a prime retail location for shopping malls, hotels, restaurants and bars.
The port company also owns land adjoining the docks area at O’Curry Street and Corcanree.
If the sale of the docks goes through, it is planned to sell off these sites at a future date.
It is believed that a compensation package will be offered to existing port users in Limerick.
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