Mr. Brian Sheridan:

If I may, I will add to some of the points made by Mr. Bradshaw. On the reference to dredging, Galway is probably the most fortuitous port in the country in that our dredging requirements are on a cycle of every 12 to 14 years. Many of the other ports, for example, Waterford, would have to dredge the equivalent of every year that we do on a 12 to 14 year cycle. Dredging, therefore, is not an issue in Galway.

It was mentioned that from a petroleum perspective Galway is a port of national strategic importance and that during the extreme weather conditions in the winter of 2010, Galway was the stand-by port for the capital. Many of the oil tankers were rerouted to Galway to provide fuel to keep the capital energised and functioning during that period.

As Mr. Bradshaw mentioned, the Volvo Ocean Race in 2009 delivered €55 million into the city and the region, and again in 2012. To do that we had to close the port, with the agreement and support of our customers. That was a huge ask, but we did it. During the darkest hour of Ireland's history in terms of the financial mess we were in, the Volvo Ocean Race in 2009 lifted the spirits of the nation. That would not have happened were it not for the ambition of the port company and the volunteer army behind it that had the ambition to take on an event like the ocean race. The largest sporting event in 2012 was the London Olympics, the second was the European Cup Final in Kiev, and the third was the Volvo Ocean Race in Galway. As Mr. Bradshaw pointed out, we are a very small executive but we dare to dream, and we believe we are on the right path in putting forward this extension.