Mr. Eamonn O'Reilly:

There is a very important point that needs to be emphasised. We are developing Dublin Port in accordance with a master plan extending out to 2040. It is very important to understand that with this master plan we are moving Dublin Port to its ultimate and final capacity in just 20 years from now, and that is at best. If things go against us then it is possible the port could reach ultimate capacity within only ten years. This is a really important point to emphasise.

The scale of Dublin Port is such that the investment we have had to make, and will continue to make, is enormous. For example, in the 25 years since the Dublin Port Company was created as an entity, from 1996 to 2020, the company invested €722 million in infrastructure in Dublin Port. Over the next five years, we plan to invest €400 million, with about €80 million of that in this year alone. In the five years between 2026 to 2030, €470 million will be invested. All of the investments we are making over the next five, ten and 15 years are very large amounts. We self-finance and raise money ourselves. The money does not come from the Exchequer. All of these investments in Dublin Port are to bring it to its ultimate and final capacity.

A corollary to this, and it is an important point, is that import does not compete with Rosslare Port. I cannot go to the market and encourage shipping lines to come to Dublin that want to go to Rosslare. Likewise, Mr. Carr is not in a position to compete for trade from Dublin. The demand for port infrastructure is a derived demand from what shipping lines want. That, in turn, is a derived amount based on what the customers of ferry lines want and what the hauliers want. For example, the same shipping lines are going through Rosslare Europort as are going through Dublin Port, servicing the GB ports. The ports do not compete with each other. They are part of the national transport system and in that respect it is very much in Dublin Port's interest to see significant investment and development in Rosslare Europort and to see the investment in roads, which Mr. Carr spoke about, being made.

The more demand there is for ships to call at Rosslare, the less pressure there is on Dublin Port and the later it is that we will ultimately reach our maximum capacity. That is a very important fundamental point, underlying and underpinning all the short-term issues we are discussing today. I hope I have answered all the Senator's questions. If I have not done so fully he should feel free to come back to me.