Cork calls for investment

We are all working currently on the development of these proposals. However if we are to succeed it is essential that Government policy supports and prioritises these initiatives, ” he says.

“Currently Irish ports handle 99% by volume of goods shipped to and from this island which in value terms is estimated to be worth €150 billion per annum approximately. These facts’ serve to emphasise in dramatic terms the critical importance of the port sector to the Irish economy today and into the future. Ten years ago Irish ports handled 28 million tonnes of cargo approximately. This has increased to 46 million tonnes of cargo approximately in 2003. If this pace of growth is maintained or even should it slow down by say 10%, without question the infrastructural capacity of our ports will require significant investment.” O’Mahoney also acknowledges the support the port has received from both the Exchequer and the European Union.

He also stresses the importance of an adequate land bank: “Such land is an absolute necessity for ports as tonnage volumes continue to increase, ” he says. “The challenge for the ports is to ensure that land banks are effectively managed and the returns therefrom are maximised. On the other hand an inability to acquire land, particularly land adjacent to deep water could have a longterm adverse impact on the trading capability of our ports which could in turn have adverse consequences for the continued growth prospects of the Irish economy.”