The Ringaskiddy container terminal at the Port of Cork is set to receive new facilities courtesy of an €88.5 million investment. This is a joint initiative with the Ireland Strategic Investment Fund (Isif) which had previously contributed €18 million in 2017. As part of the wider €99 million investment unveiled by Paschal Donohoe, Minister for Public Expenditure and Reform, the project is expected to exceed a total cost of €100 million. Partial funding for this project will be provided by the EU.
Donal Crowley, Interim Chief Executive at the port, expressed his gratitude for the investment that will provide the essential funding required to continue constructing quay infrastructure at Ringaskiddy, alongside support for the development of offshore renewable energy. Donal Murphy, senior investment specialist in Isif, highlighted the project’s role in facilitating the country’s transition to a net zero economy, stimulating trade and economic activity.
For the first time in the nation, the Port of Cork will boast both assembly and storage facilities for offshore wind projects. Being the world’s second largest harbour after Sydney, the port, along with Bantry, witnessed a total traffic of 9.5 million tonnes of goods in 2023.