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Port of Belfast to be expanded to
meet growing traffic
The best is yet to come says chairman as £630 million plan is
announced to reclaim land from Belfast Lough
Port of Belfast Announces Development Plans to
Accommodate Growing Economy
The Port of Belfast today announced plans to reclaim 120 acres of land
from Belfast Lough at a cost of £630m to accommodate economic growth.
The announcement was made as an economic report was published
detailing the scale of the Port's contribution to the Northern Ireland
economy. Produced by the London based research consultancy 'cebr', the
study forecasts that by 2025 the Port will need to invest heavily to
cater for a doubling of traffic if Northern Ireland is to match
economic activity in the rest of the UK.
According to the independent study the Port's activities directly and
indirectly support 187,000 jobs (27% of Northern Ireland's entire
workforce) and 31% of the region's total economic value (£19.5
billion).
Announcing the plans, Belfast Harbour Commissioners Chairman Len
O'Hagan said:
"This report, the first of its kind, clearly demonstrates the vital
role the Port of Belfast plays in the Northern Ireland economy. Last
year the Port handled over 60% of Northern Ireland imports and
exports, valued at £19.5bn."
"Recent events have transformed our political landscape, and a new
chapter in Northern Ireland life has opened. I firmly believe that the
best is yet to come and that with a local Assembly focussed on the
issue, our target over the next 15-20 years must be to close the gap
in economic performance between Northern Ireland and the rest of the
UK and the Republic."
"On a wider context, the ongoing removal of barriers to international
trade presents both opportunities and challenges for our economy and
we must ensure that Northern Ireland has the infrastructure in place;
the terminals, the quays, the warehouses and the roads, to
successfully manage the projected growth."
"Our plans for future investment are a clear demonstration of the
Port's commitment, both to Northern Ireland, and to the continued
growth of our economy."
Roy Adair, CEO , Port of Belfast, said:
"Today's report shows how important the Port of Belfast is to the
continued success of the Northern Ireland economy. Economic growth
means that current Port land resources will become exhausted and it is
for this reason that we plan to reclaim 120 acres from Belfast Lough.
The new land will support an additional 6 km of quayside and will
require a total investment of £630m."
"Since Belfast's earliest days, the Port has ensured that local
products can reach markets across the world. From our original base at
the bottom of High Street, we have grown, and will continue to grow,
to meet the needs of the Northern Ireland economy."
It's also estimated that 17,000 people (19% of Belfast's total) work
within the Harbour Estate and that the Port and its tenants annually
pay over £11million in rates or 8.1% of Belfast City Council's total.
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