Revealed: the £630m future of Belfast Port

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Tuesday, September 06, 2011

By Robin Morton

Belfast Harbour Commissioners have unveiled a £630m plan to extend the Port of Belfast by reclaiming a further 120 acres of land from Belfast Lough over the next 20 years.

The announcement was made as a report was published outlining the port's contribution to Ulster's economy.

The report, drawn up by the London-based Centre for Economics and Business Research (CEBR) predicted that investment by the port would enable the local economy to support an additional 46,300 jobs by 2010.

CEBR was commissioned by the Harbour Commissioners to carry out research on the economic contribution of the port.

BHC chairman Len O'Hagan told a Press conference at Belfast Harbour Office that the report highlighted the "vital role" of the port in the local economy.

He said: "Recent events have transformed our political landscape and a new chapter has opened in Northern Ireland.

"I believe the best is yet to come and our target over the next 15-20 years must be to close the gap in economic performance with the rest of the UK and the Republic.

"Our 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."

Port chief executive Roy Adair said the new land would support an additional four miles of quayside; half on the Co Down side and half on the Co Antrim side.

In 2005, the commissioners unveiled a £140m corporate plan for the 2006-2010 period.

Today's announcement looks ahead to 2025.

The total budget is £630m, including the already-announced £140m, but Mr O'Hagan said that no Government funding would be required.

The £140m programme includes investment in a new terminal for Stena Line, due to open next April, a new animal feeds store and a logistics park.

The additional reclaimed land will be used to accommodate two load-on load-off container ports close to Tillysburn on the Co Down side of the Harbour Estate.

Planning permission will be required and the Harbour Commissioners will have to agree terms with the Crown Commissioners to secure the seabed.

Although the Port of Belfast only employs 130 people directly, the CEBR report estimated that at present, 186,798 jobs - almost one in three of the province's workforce - were directly and indirectly supported by its activities.

CEBR reached this total by adding together the 92,021 people employed by companies trading through the port or based in the Harbour Estate, and the 94,777 jobs which it said were generated by the "multiplier effect" .

The economic activity contributed an estimated £3.3bn a year to the Government in taxes and national insurance, said CEBR.

The report will provide Belfast Harbour Commissioners with more ammunition as they attempt to fend off what they fear is a "land grab" by the Strategic Investment Board of the port's 1,950-acre land bank.

The Harbour Commissioners insist that a sell-off of the non-port land would deprive them of the income required to implement the corporate plan.

CEBR said that if the local economy matched the growth at the port, Northern Ireland would be able almost to meet the Government productivity rate targets.

The Port of Belfast handles 60% of Northern Ireland's seaborne trade and last year handled £19.5bn worth of imports and exports.