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Belfast Port will need £630m to expand
Belfast Port is planning to reclaim 120 acres of land from Belfast Lough at a cost of £630 million to meet anticipated requirements over the next 20 years.
 The move comes as an economic report by the London-based research consultancy Centre for Economics and Business Research was published detailing the scale of the Port’s contribution to the Northern Ireland economy.
Port chiefs say the land, warehouses and more than six kilometres of new quayside will be needed to accommodate growing trade and visitor numbers between now and 2025 – and the spend will happen without any call on the public purse.
Currently, the port’s spending £140m to improve facilities between now and 2010, including the reclamation of 50 acres of land, but more is needed because that space will be fully utilised over the next 10 years, hence the new spend.
CEBR’s Chief Executive Douglas McWilliams told a press conference at the Harbour Commissioner’s Office that it is estimated the Port presently provides directly and indirectly employment for almost 200,000 people in Northern Ireland, representing about one in three of the province’s entire workforce.
“The port handles £19.5 billion worth of exports and imports every year, and this in turn contributes an estimated £3.3 billion a year in taxes and national insurance contributions to the government,” he said. “So it has a major impact on Northern Ireland’s economy.”
Port Chairman Len O’Hagan commented: “This report, the first of its kind, clearly demonstrates the vital role the Port of Belfast plays in the Northern Ireland economy.”
He said that with the return of devolution, a new chapter in Northern Ireland life had opened, and he added: “I believe the best is yet to come.”
He said the target over the next 15 to 20 years would be to close the gap in economic performance between Northern Ireland and the rest of the UK. “We must ensure that Northern Ireland has the infrastructure in place – the terminals, the quays, the warehouses and the roads – to successfully manage the projected growth.
“It is a massive project and it will not come cheaply. It is estimated the total cost will be in the region of £630m, but no public money will be required. These plans for future investment are a clear demonstration of the port’s commitment both to Northern Ireland and to the continued growth of our economy.”
Similar sentiments were echoed by Port Chief Executive Roy Adair, who pointed out 60 acres of land would have to be reclaimed on the County Down side of the Port, and another 60 acres on the County Antrim side to support an additional four miles of quay-side.
“Economic growth means that the current port land resources will be exhausted and it is for this reason that we plan to reclaim 120 acres from Belfast Lough,” he explained, and added: “There are big changes happening in the world of shipping. Most significantly, ships are getting larger and consequently some of our current facilities are likely to become obsolete. In addition to that, we anticipate a doubling of throughput between now and 2025, including further growth in the container sector, so we need to ensure we are well placed to cope with that increase and that change, and subsequently we need to look beyond our existing land banks.”
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