Post by earl on Nov 9, 2007 16:05:28 GMT
DUBLIN, Nov 8 (Reuters) - A unit of Real Estate Opportunities Ltd (REO.L: Quote, Profile , Research) will build a new 300 million euro ($439.1 million) deep-water port in Ireland with joint venture partner the Drogheda Port Company, the groups said on Thursday.
They said in a statement the appointment of consultants to prepare a port master plan was already well under way. The project, Bremore Ireland Port, is between Dublin and the town of Drogheda.
"Current estimates of its total development costs are in the order of 300 million euros," the joint statement said.
The statement said the Drogheda Port Company began the development in 2002 as a response to an expected lack of capacity on Ireland's east coast.
"The development of Bremore Ireland Port is hugely significant: it will free a potential bottleneck in the continuing growth of freight traffic to and from Ireland," said Drogheda Port Company Chairman Patrick Traynor.
Castle Market Holdings Ltd, a wholly-owned subsidiary of Real Estate Opportunities (REO), was selected as Drogheda Port Company's joint venture partner after an open tender process.
Irish property firm Treasury Holdings Group holds a majority stake in REO, which is domiciled in Jersey, in the Channel Islands. (Reporting by Jonathan Saul; editing by Paul Bolding)
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They said in a statement the appointment of consultants to prepare a port master plan was already well under way. The project, Bremore Ireland Port, is between Dublin and the town of Drogheda.
"Current estimates of its total development costs are in the order of 300 million euros," the joint statement said.
The statement said the Drogheda Port Company began the development in 2002 as a response to an expected lack of capacity on Ireland's east coast.
"The development of Bremore Ireland Port is hugely significant: it will free a potential bottleneck in the continuing growth of freight traffic to and from Ireland," said Drogheda Port Company Chairman Patrick Traynor.
Castle Market Holdings Ltd, a wholly-owned subsidiary of Real Estate Opportunities (REO), was selected as Drogheda Port Company's joint venture partner after an open tender process.
Irish property firm Treasury Holdings Group holds a majority stake in REO, which is domiciled in Jersey, in the Channel Islands. (Reporting by Jonathan Saul; editing by Paul Bolding)
© Reuters 2007. All Rights Reserved. | Learn more about Reuters
FACT BOX
REO.L
Last: 123.00p
Change: -2.00
Up/Down: -1.60%
Quote
Full Chart
Company Profile
Analyst Research
QUOTES
by Name by Symbol
Global watchdog sets up task force on credit crisis
More Shares News...
Ads by Google
What's This?
Princess Ireland
Irish Agency for Princess LuxuryMotor Yachts and Motor Yacht Sales
www.princessireland.com
Ann Summers Ireland
Order Online From Trustable SourceDiscreet & Fast Delivery To Ireland
www.AnnSummers.com
French Property Ireland
The French Property ExpertsIrish Based, 10 Years Experience
www.FrenchPropertyIreland.ie
Reuters.co.uk: Help | Contact