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Funding now major hurdle to Galway Port redevelopment project

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Funding now major hurdle to Galway Port redevelopment project

There's a warning that funding will be a major hurdle for the ambitious plans to transform Galway Port - with the project expected to cost several hundred million.

Planning permission was recently secured on the same day that the green light was given to the Galway City Ring Road.

There's no shortage of ambition for this project - described as a "once in a generation" infrastructure development for Galway and the West.

This isn't just about upgrading the port itself - but creating a whole new maritime quarter in the city, complete with large-scale residential and commercial development.

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Port of Galway CEO Maurice O' Gorman and Harbour Master Brian Sheridan made a presentation to Galway City Council this week.

They outlined the vision for the project, and how Galway would be transformed into a "waterfront city of excellence" with a year-round martime culture, not just at certain times of the year.

Brian Sheridan said it's not "pie in the sky stuff" to predict that Galway could attract 100 cruise ships a year with the redeveloped port.

But both men cautioned that the major roadblock at this point is funding, with the project expected to cost several hundred million.

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Government currently has a block on exchequer funding for commercial ports, and Galway Port cannot access the capital needed as a private company.

And that's led to a catch 22 situation - because it can't get money from the Irish state, it also cannot access a cent of European funding.

Galway Port is now asking Galway City Council to champion a change in national policy to allow it to secure state funding, which in turn would unlock EU funding.

To that end, councillors suggested that Minister with responsibility for Ports, Galway East TD Sean Canney, be invited down for a roundtable discussion as soon as his diary allows. ]

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