A significant investment plan totalling £300 million for the future development of Belfast Harbour has been announced, which includes ambitious initiatives such as a new deep water quay and the deployment of autonomous vehicles. The strategy, known as the Advance Regional Prosperity 2025-2029, was launched on Tuesday and outlines Belfast Harbour’s commitment to investing £208 million in port improvements alongside a £105 million regeneration project focused on enhancing the harbour estate and waterfront.
The most notable proposal within this strategy is the construction of a £90 million deep water quay. This facility aims to accommodate some of the world’s largest cruise ships and is set to expand the port's capabilities for offshore wind turbine assembly and installation. The completion of this project is expected by 2030.
Other key projects included in the strategy entail the introduction of sustainably powered cranes, planning and design for the reconstruction of Stormont Wharf, and the development of new BREEAM Excellent sustainable warehouses. Additionally, Belfast Harbour is planning to introduce autonomous vehicles to improve logistics across the port and its surrounding estate.
The investment strategy also encompasses the development of City Quays 5, a significant mixed-use regeneration project that will provide office, retail, hospitality, and exhibition spaces, with a budget allocated of £60 million. Furthermore, plans to expand City Quays 4 will see the construction of 325 homes, incorporating affordable housing options, with projections indicating the Harbour aims to facilitate the construction of an additional 3,000 houses by 2030.
Belfast Harbour is preparing to introduce "The Harlander," an autonomous passenger vehicle that is expected to run within the estate by 2029. Initial on-road trials of this vehicle are scheduled to begin this year. In addition, it has been projected that new productions at Belfast Harbour Studios will boost the local economy by approximately £200 million by the end of the decade.
Belfast Harbour functions as a trust port, financing itself through internal revenues and reinvesting all after-tax profits into port and estate development for the benefit of the surrounding city and region. Dr Theresa Donaldson, chairwoman of Belfast Harbour Commissioners, stated, "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." She further added that the investment would bolster the Harbour's pioneering efforts to diversify and decarbonise, thereby enhancing the reputation of Belfast as a key port for cruise tourism and as a hub for offshore wind facilities.
Joe O'Neill, chief executive of Belfast Harbour, elaborated on the significance of this investment, saying, "The addition of a new deep water quay will not only add to the c. 300,000 cruise visitors welcomed by Belfast Harbour each year, it also gives us the opportunity to expand our capacity in the assembly and installation of offshore wind." He noted that this strategic direction would position Belfast Harbour prominently during the clean energy transition.
Commenting on the potential economic benefits, Stormont Economy Minister Conor Murphy remarked, "The proposed investments support my department’s strategic objectives of creating good jobs and reaching net zero by 2050 and will provide tangible benefits for the economy." He added that these investments signify Belfast Harbour’s commitment to fostering a prosperous future for the region while addressing significant challenges including housing supply and climate change.
Source: Noah Wire Services