Work is starting on the largest single capital investment project ever undertaken by Belfast Harbour.
Marine works are due to begin this week on the new £90 million deep water berth at the ‘D3 terminal’, which will allow some of the world’s largest cruise liners to dock in Belfast.
The development will see Belfast Habour’s existing cruise terminal converted back into a major hub for the assembly and installation of floating offshore wind turbines.
The trust port, which re-invests all post-tax profits, said the investment will be entirely self-financed.
Belfast Harbour last year reported an underlying profit before tax of £36.7m for 2023, up from the £36.3m recorded in 2022.
The new deepwater terminal on the Airport Road is expected to be completed in time for the 2028 tourist season.
Some 146 cruise trips are booked for Belfast in 2025, which Belfast Harbour estimates is worth between £20m-25m
Although down on the record 158 from 2023, Belfast Harbour remains the busiest cruise port on the island and second busiest cruise port in the UK.
“A key objective of this signature investment by Belfast Harbour is to attract more turnaround cruise calls to Belfast,” said Belfast Harbour’s chief executive, Joe O’Neill.
“This means that as one set of passengers disembarks, another set embarks on the same day.
“This will have a multiplier effect on visitor numbers, increasing associated bed nights while growing the positive economic impact for the region.”
Co Down firm Graham has been announced as the main contractor for the initial phase of the build.
The second phase of the project, which will facilitate the assembly and installation of the next generation of floating offshore wind turbines, is due to be completed by 2030.
Graham’s contracts director, Paul Scott said: “We are delighted to be partnering with Belfast Harbour to deliver this project, not only will it enhance Belfast’s position as leading cruise destination but will also play a crucial role in enabling the future of offshore wind energy in the region.
“As the works commence, we will focus on working closely with key stakeholders and the local community delivering social value and creating impact for years to come.”
The £90m investment is part of £313m five-year strategy announced by Belfast Harbour in January.
Chair of Belfast Harbour Commissioners Dr Theresa Donaldson said: “As a trust port, our primary responsibility is to maintain and develop the port for the good of everyone in the region, and this project delivers on that mission.
“It will help us to attract more turnaround cruise calls to Belfast, boosting the economic contribution of cruise tourism, while also providing a pathway to our longer-term ambitions of facilitating the construction of the next generation of floating offshore windfarms, ultimately helping Northern Ireland and its neighbours to reach their clean energy and net zero targets.”