Drogheda Port Company is pleased to announce that it has selected a consortium as preferred bidder following an open competitive process to secure a joint venture partner to co-develop Ireland’s new deep-water Port at Bremore Co Fingal. The successful consortium is led by Castle Market Holdings Limited - a subsidiary of Real Estate Opportunities Limited (“REO”) - and includes a world class port operator. The Company and the consortium will now proceed to finalise the commercial arrangements that will form the joint venture.

Bremore Ireland Port is one of the most exciting and important infrastructural projects to be undertaken in Ireland in decades. As Europe’s fastest growing economy, we have seen our east coast ports grow freight volumes at 6.5% per annum over the last 15 years.  This rapid growth has resulted in congestion and created a need for substantial additional capacity over the coming decade.

At an estimated cost of €210 million, the development of Bremore Ireland Port was begun in 2002 by Drogheda Port Company as a strategic response to the impending future deficit in port capacity not only at Drogheda Port but on the east coast of Ireland as a whole.

Mr Patrick Traynor, Chairman, commenting on behalf of Drogheda Port Company stated that ‘The board of Drogheda Port is very pleased with the outcome of the joint venture partner process and believe that the development of Bremore Ireland Port is hugely significant to the continued growth of the Irish port sector.’

Mr Paul Fleming, CEO, commented ‘We welcome the enthusiasm, experience and resources that Castle Market Holdings will bring to the joint venture. As a team we are very focused and fully committed to delivering a world class port infrastructure to Bremore.’
 
“Bremore has enormous potential.  In our view it is quite unique and one of the most exciting projects in Ireland today.  We are delighted to bring Treasury Holdings’ extensive development experience to bear to ensure the success of this strategic national asset,” said Mr Paddy Teahon, Director of Treasury Holdings, REO’s Manager and majority shareholder.

Further information:
Paul Fleming
Chief Executive
Drogheda Port Company

+ 353 41 983 8378
paulfleming@droghedaport.ie

Company Information:

Drogheda Port Company
Drogheda Port is one of Ireland’s premier multi modal ports strategically located on the east coast with direct motorway access to the country’s key industrial and commercial centres. The port is continuing to develop and expand by offering its customers a strategic locational advantage in an increasingly competitive marketplace.

The port has built a solid reputation on high levels of customer service, flexibility, and the rapid turnaround of vessels. Few ports boast such a prime position for taking advantage of the ever increasing opportunities in European and Scandinavian trades, in addition to the emerging markets of Eastern Europe and the ever changing patterns of short sea container trade.

Drogheda Port has established itself as Ireland's gateway to Scandinavia with the country’s only weekly service to Norway, Sweden and Denmark. The port is also Irelands major distribution and logistics centre for newsprint.

www.droghedaport.ie

Real Estate Opportunities
Real Estate Opportunities Limited (“REO”) is a company incorporated with limited liability in Jersey. REO’s ordinary shares are listed on the London, Dublin and Channel Islands Stock Exchanges. Treasury Holdings is the majority shareholder.

REO owns a wide portfolio of distinctive and valuable properties in Ireland through its wholly owned Irish subsidiary, Castle Market Holdings Limited. The Company’s investment and development portfolio includes land, properties and developments in all of the major sectors of the property market including office, retail, residential and industrial.  It is one of Ireland’s most successful property investment and development companies with a development portfolio with a gross development value in excess of €8 billion.

www.realestateopportunities.co.uk
www.treasuryholdings.com