Port Construction Funding for Merseyside

The funding, £7.1 million from the Merseyside Objective One Programme and £9.9 million from the Northwest Regional Development Agency, will enable cruise ships of up to 350m in length berth at the city’s famous waterfront. More than 25 cruise ships are expected to arrive in Liverpool each year by 2009.

The terminal facility will be built onto the existing landing stage and will mean that some of the world’s most famous cruise liners will be able to berth in the city. The terminal will be operated by Liverpool City Council, which estimates that the project will bring in more than 100,000 tourists by 2010, generating £64 million for the local economy by 2025.

The European Union designated Merseyside as an Objective One area for the second time in 2000 as the area’s economic performance as measured by gross domestic product per head was below 75% of the EU average. Objective One classification means that between 2000 and 2008, Merseyside will benefit from a £2 billion investment programme consisting of £890 million from the EU, a matching sum from the UK Government, and a further £400 million from the private sector.

Construction of the facility at Princes Dock is due to get underway this month and it is expected to be operational by 2006.

Jim Teasdale, chief executive of the region’s umbrella organisation for the maritime industry, Mersey Maritime, said ‘The approval of funding for this major project is fantastic news for the region’s maritime industry. We are experiencing renewed interest in the sector with our ports handling more cargo than ever before and major companies relocating their operations into the city.’

MJ Information No: 20765