Business Irish

Thursday 27 October 2016

Shannon Airport seeks investors

Gordon Deegan

Published 14/07/2015 | 02:30

The arrivals terminal at Shannon Airport.
The arrivals terminal at Shannon Airport.

The Shannon Group is seeking financial backers for its investment programme at the airport and the adjoining Shannon Free Zone.

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In published tender documents the State owned group said it is seeking candidates to provide funding in relation to: development and investment; funding for long term infrastructure-type projects; and funding/equity releases for existing income producing investment properties.

The group is also seeking third parties to provide working capital loans and term loans.

Underlining the Shannon Group's spend, the group currently has a number of plans before Clare Co Council for the upgrading of properties in the Shannon Free Zone and at the airport terminal building.

Yesterday, Fianna Fail TD Timmy Dooley said: "I am pleased to see that the Shannon Group is moving ahead with its plan to source funding to upgrade the existing stock of properties in the Shannon Free Zone.

"There is no doubt that much of the property requires upgrading in order to be attractive to industrialists."

Shannon Group chairwoman Rose Hynes has said its five year plan incorporates "an ambitious capital investment programme to ensure the group remains firmly focused on delivering growth opportunities, which will be essential to maintain competitiveness".

Irish Independent

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