Port ownership doesn’t pose issue for Rosslare investment

GENERAL Manager of Rosslare Europort Glenn Carr says that historical issues around the ownership of the port are having no impact on Iarnród Éireann’s ability to invest in Rosslare and he is unaware of them being any impediment to attracting EU funding.

Iarnród Éireann operates Rosslare Europort under a complex ownership arrangement involving the corresponding port of Fishguard, now owned by Stena Line, dating back to the 19th century.

‘I did hear questions asked that if EU money was to become available, it could pose an issue,’ Mr Carr said. ‘But basically the historic Rosslare-Fishguard Company is only a shelf company listed on the stock exchange.

In my view it wouldn’t pose a problem here. Over here, the port is owned by the government through Iarnród Éireann and Stena Line own the port on the Fishguard side. They are two entirely separate entities and the profits stay within each country. I think precedent is well established around who’s responsible for investment in each part and where the profits go. I don’t see it being an issue.’