Plans for €10m Cork port redevelopment hit stumbling block
It was hoped that the project would see several companies locate at Marino Point in Cobh.
PLANS TO REDEVELOP the port of Cork have hit a stumbling block after the joint venture behind the proposed project withdrew plans sent to Ireland’s competition watchdog.
Over 200 jobs were lost at the site at Marino Point in Cobh when the Irish Fertiliser Industries closed down its operations there in 2002.
The Cork port authority and giant Irish-listed agri-services group Origin Enterprises were set to redevelop the site through a joint venture company called Marino Point Port Company.
In what was reported to be a €10 million development, the port was expected to be revamped so it could handle oil and agri-feed traffic. It was hoped that several companies would be located at the site.
The proposed acquisition was notified to the Competition Authority, which began an investigation into the deal last month.
Withdrawn
However, a statement published by the competition watchdog today noted that “the creation of a joint venture company, Marino Point Port Company, and the related acquisition … has been withdrawn at the request of the parties”.
Neither party immediately gave any indication as to why the application was withdrawn.
A spokesman for Origin declined to comment when contacted by Fora.
Asked why the joint venture withdrew its application, a spokeswoman for the Port of Cork said: “We are not saying at this stage”.
Asked if the withdrawal of the application to the competition watchdog will delay the project she said: “All parties are now reflecting on our next steps over the next few days. We have always had an interest in developing Marino Point (and) we are keen to acquire and use (the site)”.
It is understood that Origin is still interested in developing the site.
Upgrades
The Irish Examiner reported yesterday that county councillors have asked the Port of Cork authority for detailed plans on what it intends to do with the Marino Point site.
Last year the Port of Cork spent €1.5 million upgrading the current facilities at the Cobh cruise terminal, Ireland’s only dedicated cruise berth.
The investment included installation of a number of high load mooring bollards at the east and west end of the Cobh Cruise Berth which will enable larger ships to be berthed.
The venture is the second major project that the port authority is focusing on, the other being the €100 million redevelopment of Ringaskiddy port.
That project would include dredging part of the harbour, reclamation work and building a new container terminal to allow Cork to increase its container traffic business.
