Dublin Port's latest development project is set to be better suited to changing trade patterns caused by Brexit concerns, with a decline in the volume of goods already being seen between Ireland and the UK.
The project could cost in the region of €320m based on current prices.
A planning application is being lodged with An Bord Pleanála with the aim to provide a significant amount of additional capacity, to cope with increases in trade up to 2040.
A new roll-on/roll-off jetty designed to handle ferries up to 240m in length will be seen in this new scheme, as well as a redevelopment of an oil berth as a future deep-water container berth.
Dublin Port Company, a semi-State body, is currently spending about €277m on its so-called Alexandra Basin Redevelopment (ABR). Due to be completed by 2021, it will improve the port's capacity for large ships by deepening and lengthening 3km of its 7kn of berths.
The ABR is part of a €1bn capital programme up to 2028 that will also include initial work on the MP2 Project, as well as the continuing development of an inland port close to Dublin Airport.
DPC Chief Executive Eamonn O'Reilly has stated;
"We are seeing clear evidence of the effects of Brexit in our trade figures. Unitised trade with British ports rose 9.7% in the first quarter of the year, but volumes declined 1.8% in the second quarter. For unitised trade with continental Europe and beyond, on the other hand, first-quarter growth of 8.3% was followed by even stronger growth of 10% in quarter two. The MP2 Project is designed to facilitate growth in volumes to continental Europe, as Brexit changes trade patterns in the coming years."
Dublin Port Company said that if it secures planning permission it will establish a €1m fund to set up a city farm and a €1m trust for a local primary school impacted by the works.