Business community turns out for Chamber Business event at Port of Waterford in Kilkenny

The local business community was out in force on Thursday to attend a Waterford Chamber business event at the Port of Waterford in Belview, Kilkenny.

Guests were welcomed by the Chairman of the Port John Treacey and treated to a tour of the activity port side and enjoyed some insights into the latest success at the Kilkenny port and upcoming business developments from the Port CEO David Sinnott.

“The history of Waterford City and the history of the port are closely linked and for 900 of those 1100 years, the port was the economic engine of the city,” said Mr Sinnott.

“Considering recent announcements and the release of DMAPS for offshore wind development, the link between the city, the region and the port will become even more intrinsically linked for the next 100 years.

Mr Sinnott focused on three main points during his speech, the importance of the close ties between the agribusiness community in the region and the port, and the fact that the port facilitates the import of more than one million tonnes of raw material for the South-East dairy industry each year.

The increasing use of the port by businesses ensures the delivery of a 27% carbon reduction for businesses who use container shipping via the Port of Waterford versus using Dublin Port. The port closes the loop on transport emissions ensuring a sustainable-friendly journey in the locality.

“In 2023, 94% of all the export containers that left the Port of Waterford were from four South-East counties - Waterford, Kilkenny, Wexford and Carlow,” Mr Sinnott said.

“I thank the businesses behind these containers who already make that 27% carbon saving for us all and I hope to double the number of export containers from the Southeast shortly – I’d very much like to feel the pressure from businesses in the region to deliver new the shipping routes to make this happen.”
In addition, Mr Sinnott outlined the future strategic vision and port masterplan.

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“Within that master plan, we have prioritised the infrastructure needed to get the Port ORE ready,” he said.
“We are pleased to be part of the South East Offshore Taskforce and I am pleased that this task force has commissioned a study that will highlight the economic benefit for the area.”

Speaking on the potential economic impact for the region from the Offshore wind farm development, Mr Sinnott said: “Let’s consider just two of the areas on the DMAP being built out. Each wind farm will cost 4 to 5 billion to build; following commissioning it will operate for 25 to 30 years. If the right Port facilities are in place relevant industries will be located in Port areas. Imagine if just 5% of the total cost was to be spent locally that would equate to 200 million of an additional economic stimulus for the region. If two wind farms were to be built out, you could more than double this figure. That is the equivalent of three North Quays projects. 

"I believe it would have a transformational impact on the regional economy and the city of Waterford for the ¾ of a million people who will be living around here by 2040.”

Also speaking at the event President of Waterford Chamber Niall Harrington said: “Waterford Port is progressing with the expansion and development of the port and port-related activity. The initial expansion will require €17m of investment that will allow for port activity growth.  

"Waterford Chamber sees the business potential of the Port of Waterford, whereby off-shore wind production in the Celtic Seas could transform the port into the equivalent of what Aberdeen is to North Sea oil. As part of the South East Off Shore Wind Task Group, we can see exactly how Waterford and our region, in collaboration with our port, can create an enduring sustainable business opportunity that will underpin the region’s economy and GDP.  

"When you factor in the spin-off potential, from an educational and research perspective around a ‘green energy hub’, with the development of alternative fuels etc, the opportunity is enormous and one we must, as a region, strive to grasp," he said.

He said the ask from the Government is the initial €17 million of investment to expand the port as planned.