Major investment in Shannon Foynes Port Company to boost local economy – O’Donovan

“Having worked with CPL, the private investor who is contributing €22 million of the €38 million to the Shannon Foynes Port Company (SFPC), I realise the hard work and dedication that went into bringing this deal to life”, says Patrick O’Donovan, Fine Gael TD for Limerick.

“The Minister for Transport, Tourism and Sport, Paschal Donohoe TD, today (Monday) visited Foynes   to announce the investment of €38 million by the Shannon Foynes Port Company (SFPC), Ireland’s largest bulk port company”

“The first major project is the infilling of the East Jetty in Foynes; a 12 month project employing up to 150 people during construction. It is estimated that a total of €12 million will be spent this year by SFPC on this project.  

“CPL will also invest €22 million to construct of a new smokeless fuel depot to meet the expected increase in future demand for smokeless fuels. Another private operator, Argosea, will also invest €4 million in the construction of a 1,400sqm warehouse for the storage of animal feeds to take advantage of the expected increased demand for animal feed, when milk quotas come to an end in March.

“The Shannon Foynes Port Company plan to double their trade over the next three decades and today’s announcements mark a major step in that direction.”

“The SFPC is a hugely valuable employer to the west Limerick area. I warmly welcome the news of such major investment which will provide new opportunities to people in the local area.”