The European Investment Bank will provide advice on the rehabilitation of Galway Port

The European Investment Bank (EIB) will provide advisory support and technical expertise to the Galway Harbor Company and Galway City Council as part of the planned development of the city port.

When it comes to port redevelopment, care is always taken to build new infrastructure in the port that can serve larger cargo ships and stay open 24 hours a day. This would accompany a new neighborhood in the city’s inner port areas, as well as a hydrogen energy hub.

EIB advisory support will focus on the urban regeneration side of the project, including financing options, project structuring and technical design.

The Port of Galway was also included this week by European transport ministers on the trans-European transport network, which now allows it to benefit from funding under the EU’s Connecting Europe Facility.

This will also target ongoing plans to expand renewable energy off the west coast of Ireland.

Galway Harbor Company Chief Executive Conor O’Dowd said working with the EIB was “another positive step towards realizing our ambitious plans for our proposed new port and city center regeneration projects”.

EIB Vice-President Christian Kettel Thomsen said the advisory partnership will “maximize the benefits of future investments”.

“The European Investment Bank supports investments in ports across Europe and around the world that improve maritime transport, boost regional economic development and reduce carbon emissions,” he added.

https://www.independent.ie/business/european-investment-bank-to-provide-advisory-support-to-galway-harbour-redevelopment-42221004.html The European Investment Bank will provide advice on the rehabilitation of Galway Port

Fry Electronics Team

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