Ms Lucy McCaffrey:

At this point in time we are not planning to take investment or a partnership on board to fund the development. We will be able to fund it out of our current resources; it is a very strong business. We will also look for grant aid from various sources within the European Union, in particular the Connecting Europe Facility. We are not looking to a joint venture of any sort in funding that.

In terms of objections to the master plan and future objections, the way in which the master plan was drawn up was very good in my view.

It was highly consultative and the consultation was genuine. Modifications were made on foot of all the feedback. When Dublin City Council was reviewing this planning application, which is now before An Bord Pleanála, the councillors unanimously supported it. That is a measure of the extent to which it had been worked through and their interests and those of their constituents had been taken on board. We are now at the point in the planning application for the Alexandra Basin, ABR, project where objections have come forward and have been heard by the planner. We do not anticipate any other forum for objections to our going ahead and implementing it.

There will be later phases in the implementation of the master plan. This is the first major project. We anticipate approaching them with the same rigour in terms of talking to those who have a stake and taking their concerns on board. Our obligation is talk to all of those who have a stake and meet their concerns to the best extent possible while fulfilling our remit.

It is true that the cruise business is lucrative, but it is not very lucrative for ports, because the vessel comes in and there are vessel dues but no goods dues. However, we greatly welcome and foster the cruise business. It is very good for the economy and for the hinterland of the greater Dublin region. The new development will allow the largest cruise ships in the world to travel right up to the East-Link bridge. It will be quite a spectacle. We are planning a turning circle beside the East-Link so the cruise passengers will disembark in the city, which is a terrific prospect for them. In addition, Dublin city dwellers will have the spectacle of the life of the port being visible and accessible again.