By
Laura Hyde |
Belfast Harbour in Northern Ireland is to invest more than £300 million ($367 million) in projects to improve and regenerate areas across the port and harbour estate over the next five years.
The Advance Regional Prosperity 2025-2029 strategy is a “bold new vision” which will see £208 million ($254 million) invested to make “significant” port improvements, as well as £105 million ($128 million) being spent on the ongoing regeneration and development of the harbour estate and waterfront.
The strategy’s four key objectives are to enable economic growth, develop and improve the port, create vibrant places to live and work, and innovate for the future. The objective of accelerating to net zero is embedded across all activities.
The largest project is a proposed £90 million ($110 million) investment in a new deepwater quay designed to accommodate some of the world’s largest cruise vessels. This increase in cruise guest capacity at the port would boost tourism in the region, which is currently worth an estimated £20 to £25 million ($24 to $30 million) to the local economy annually. Stage one of the project is expected to be delivered by 2027-2028.
Stage two of the deepwater quay project would expand the port’s offshore wind turbine assembly and installation capabilities. It is expected to be complete by 2030 and is currently dependent on additional investment or third-party funding.
“Belfast Harbour’s goal is to drive regional prosperity by developing the port and estate, so that everyone benefits,” said Joe O’Neill, chief executive of Belfast Harbour. “This strategy will see us optimise our strengths, innovate for growth, and invest in new opportunities that meet the needs of our customers, tenants and communities.
“The addition of a new deepwater quay will not only add to the circa 300,000 cruise visitors welcomed by Belfast Harbour each year, but it also gives us the opportunity to expand our capacity in the assembly and installation of offshore wind. This strategy will put Belfast Harbour at the forefront of the clean energy transition.”
Other projects include installing sustainably powered cranes, deploying autonomous vehicles, constructing sustainable warehouses, and rebuilding Stormont Wharf, which is the port’s main deepwater berth. City Quays 5 will also receive £60 million ($73 million) for a regeneration project to create office, retail, hospitality and exhibition space. It is also hoped a project at City Quays 4, which involves creating 325 homes and developing plans for an additional 3,000 houses by 2030, will move forward.
“By investing £313 million, we will build on our strengths as the region’s leading port and a vital economic hub, delivering for our customers and tenants,” said Theresa Donaldson, chair of Belfast Harbour Commissioners. “We will continue our pioneering efforts to diversify and decarbonise, helping to reimagine and regenerate the city and bring additional prosperity to the region. Crucially, we will enhance our reputation as a leading port for cruise tourism and leverage our expertise as the only port on the island with offshore wind facilities.”
Belfast Harbour has launched its Advance Regional Prosperity 2025-2029 Strategy