The Irish Government today approved the establishment of a joint venture company between Drogheda Port Company and Castle Market Holdings following a detailed briefing by Minister for Transport and the Marine Mr Noel Dempsey.

The new port, which is fully in line with government port policy, intends to address the projected capacity shortfalls facing the Irish ports industry.

The joint venture company, Bremore Ireland Port Limited, was established as a wholly owned subsidiary of Drogheda Port Company in December 2006 to develop Irelands new deepwater port at Bremore, Fingal, County Dublin.

Drogheda Port CEO Mr Paul Fleming commenting on the approval stated that 'this is a very significant and important step in the development of the new deepwater port at Bremore. We would expect to sign the joint venture agreement within a number of weeks and then proceed to formulate the port design and masterplanning before proceeding to public consultation and planning.'