Belfast Harbour to invest around $387 million in port projects over next five years

Belfast Harbour, Northern Ireland’s principal maritime gateway and logistics hub, has unveiled a new strategy setting out a program to invest £313 million (approximately $387 million) in capital projects across the port and Harbour Estate over the next five years.

The ‘Advance Regional Prosperity 2025-2029’ outlines Belfast Harbour’s plans to invest £208 million (approximately $257 million) in port improvements and £105 million (approximately $130 million) in the ongoing regeneration and development of the Harbour Estate and waterfront.

The strategy includes a proposed £90 million (approximately $111 million) investment in a new deepwater quay, which, according to the Harbour, will be able to accommodate some of the world’s largest cruise vessels and also expand the port’s capacity and capabilities for offshore wind turbine assembly and installation.

Stage one of the deepwater quay build is expected to be delivered by 2027-28. Through the project, Belfast Harbour aims to boost cruise tourism to the region, currently said to be worth an estimated £20-25 million (approximately $25-31 million) to the local economy annually.

Stage two of the build, due by 2030, will further strengthen the infrastructure, enabling the port to play a “leading role in the assembly and installation of the next generation of floating offshore wind turbines,” the Harbour said, adding: “While this part of the project is dependent on additional investment or third-party funding, Belfast Harbour is confident that when complete, it will position the port and local supply chain as central to the deployment of high-capacity wind farms, helping meet demand for clean energy as Northern Ireland, Great Britain and Ireland strive to reach net zero targets.”

As disclosed, the new strategy has four key objectives: “to enable economic growth, to develop and improve the port, to create vibrant places to live and work and to innovate for a better tomorrow – with the overarching objective of accelerating to net zero embedded across all activities.”

Other significant port projects outlined in the strategy include the delivery of new, sustainably powered cranes, the planning, design and consent for a rebuild of Stormont Wharf – the port’s main deepwater berth, the construction of new BREAAM Excellent sustainable warehouses and the deployment of autonomous vehicles across the port and estate, Belfast Harbour revealed.

As for investment in the Harbour Estate, it will include the £60 million (approximately $74 million) development of City Quays 5, a mixed-use regeneration project including office, retail, hospitality and exhibition space. As per Belfast Harbour, there are also plans to move forward with the City Quays 4 scheme for 325 homes, including affordable housing, and to begin the process of developing an additional 3,000 houses by 2030.

The Harbour also expects to fully deploy ‘The Harlander’ autonomous passenger vehicle across the estate in 2029 and is targeting a series of new productions at Belfast Harbour Studios.

To note, this investment program is said to be in addition to the £374 million (approximately $462 million) of investments made in the past decade, to ensure a “competitive and resilient port” and developing a “vibrant economic hub” with connected and inclusive communities across Harbour Estate.

Joe O’Neill, Chief Executive of Belfast Harbour, commented: “Belfast Harbour’s goal is to drive regional prosperity by developing the port and estate, so that everyone benefits. This strategy will see us optimise our strengths, innovate for growth, and invest in new opportunities that meet the needs of our customers, tenants and communities.”

“The addition of a new deepwater 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. This strategy will put Belfast Harbour at the forefront of the clean energy transition.”

“Our strategy will also support the NI Executive and Belfast City Council to tackle key issues including the supply of housing, responding to climate change and helping grow a more sustainable and globally connected economy.”