Bremore Ireland Port Ltd, the joint venture between Drogheda Port Company and Castle Market Holdings Ltd, announces today that it has signed a Memorandum of Understanding with a wholly-owned subsidiary of Hutchison Port Holdings (HPH) to develop a Port Master Plan for the new €300 million deepwater port at Bremore in north Co Dublin.

The signing paves the way for the next phase in the development of the deepest port on the east coast of Ireland. Bremore Ireland Port hopes to be in a position to submit a full planning permission application in the next 12 months.

The development of Bremore is a strategic response to the impending deficit in port capacity not only at Drogheda Port but also on the east coast of Ireland. The new deepwater port will provide additional choice to Ireland’s importers and exporters, and accommodate new short sea shipping services to the United Kingdom, Europe, Scandanavia and the Baltic States.

Bremore Port will be designed and operated to provide the highest environmental standards and respect for the local community.

Bremore Ireland Port Ltd is a joint venture partnership between Drogheda Port Company and Castle Market Holdings Ltd, a wholly owned subsidiary of Real Estate Opportunities Limited. REO’s business in Ireland is managed by Treasury Holdings.

HPH is the world’s leading port investor, developer and operator with interests in a total of 292 berths in 46 ports, spanning 23 countries throughout Asia, the Middle East, Africa, Europe and the Americas.

Paul Fleming, CEO Drogheda Port Company commented: “We are delighted to welcome HPH to the Bremore team. Their port planning and operational experience will be a major asset to the development of Bremore Ireland Port.”

John Bruder, managing director of Treasury Holdings’ Irish business, commented:

“Bremore Port is one of the most exciting commercial developments in Ireland at present and we are delighted that a truly world-class international partner in HPH is now onboard,” he said.

For further information:

Drogheda Port Company

Paul Fleming

Tel: +353 (0) 41 983 8378