News: General

International partner chosen to plan Ireland’s new deepwater Port at Bremore

A JOINT RELEASE – DROGHEDA PORT COMPANY AND CASTLEMARKET HOLDINGS, A SUBSIDIARY OF REAL ESTATE OPPORTUNITIES LTD (REO)

 

 

15 January 2008 - Bremore Ireland Port Ltd, the joint venture between Drogheda Port Company and Castle Market Holdings Ltd, announces today that it will seek to develop a Port Master Plan with Hutchison Westports Ltd for the new €300 million deepwater port at Bremore in north Co Dublin.

 

The signing of a Memorandum of Understanding between Bremore Ireland Port Ltd and Hutchison Westports Ltd paves the way for the next phase in the development of the deepest port on the east coast of Ireland. Bremore Ireland Port hopes to be in a position to submit a full planning permission application in the next 12 months.

 

The development of Bremore is a strategic response to the impending deficit in port capacity not only at Drogheda Port but also on the east coast of Ireland. The new deepwater port will provide additional choice to Ireland’s importers and exporters, and accommodate new short sea shipping services to the United Kingdom, Europe, Scandanavia and the Baltic States.

 

Bremore Port will be designed and operated to provide the highest environmental standards and respect for the local community. It is anticipated that a diverse business district will be created around the port bringing widescale economic benefits to the Bremore/Balbriggan area and presenting lifestyle opportunities for local people to work in their local area.

 

Bremore Ireland Port Ltd is a joint venture partnership between Drogheda Port Company and Castle Market Holdings Ltd, a wholly owned subsidiary of Real Estate Opportunities Limited. REO’s business in Ireland is managed by Treasury Holdings.

 

HPH is the world’s leading port investor, developer and operator with interests in a total of 292 berths in 46 ports, spanning 23 countries throughout Asia, the Middle East, Africa, Europe and the Americas.

 

Paul Fleming, CEO Drogheda Port Company  commented: We are delighted to welcome Hutchison Westports Ltd to the Bremore team.  Their port planning and operational experience will be a major asset to the development of Bremore Ireland Port.’

 

John Bruder, managing director of Treasury Holdings’ Irish business, commented: Bremore Port is one of the most exciting commercial developments in Ireland at present and we are delighted that a truly world-class international partner in Hutchison Westports is now onboard,” he said.

 

For further information:

 

Drogheda Port Company

Paul Fleming, CEO

Tel: +353 (0) 41 983 8378

 

Real Estate Opportunities Limited  

Ray Horney, Chairman                        

Tel: +44 (0)1273 775225                    

 

Landsbanki Securities (UK) Limited

Paul Fincham/Jonathan Becher/Rob Naylor

Tel: +44 (0)20 7426 7736

 

London: Bankside Consultants                                

Simon Rothschild/ Oliver Winters                                 

Tel: +44 (0)20 7367 8888                                           

 

Ireland: Murray Consultants

Ed Micheau

Tel: +353-1-498 0300

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