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Mon April 19 2021

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Dublin gets €100m loan for port expansion

26 Oct 15 The European Investment Bank (EIB) has committed €100m (£72m) as a long-term loan for an expansion project at Dublin Port in Ireland.

The port is on track for a record year, with cargo volumes up 5.8% in first nine months and the number of ferry passengers passing 1.4m.

EIB’s vice president Jonathan Taylor met last week with Dublin Port Company representatives to finalise financing arrangements for Dublin Port’s Alexandra Basin Redevelopment (ABR) project. 

ABR is the largest single infrastructure development project in the history of Dublin Port and is expected to take five years to complete, costing an estimated €230m.  

Taylor said: “Investment to upgrade Europe's key ports is essential to improve transport logistics and reduce transport costs passed onto consumers. The Port of Dublin is a crucial transport hub for Ireland and the European Investment Bank looks forward to supporting redevelopment of the Alexandra Basin. This reflects our firm commitment to supporting transport schemes across Ireland such as the M11 road upgrade announced last week and Luas cross city connection currently being built.”

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