Stena Line announces £70m Belfast Port investment

Leading ferry company, Stena Line has confirmed plans for a £70 million investment in its ferry operations on the Belfast – Stranraer route.

The new investment, which will be made by Stena Line and the Port of Belfast over the next three years, will involve relocating the Belfast terminal to the seaward entrance of the Port.

The investment is in addition to the £90 million already invested in the route by Stena Line over the last six years. The relocation of both terminals will reduce the Stena HSS crossing time to 80 minutes and will enable Stena Line to increase the number of daily sailings for all vessels from 14 to 18.

Commenting on the investment, Dan Sten Olsson, Chairman of Stena Line said: “As market leader we have the confidence and resources to ensure that the Belfast – Stranraer route continues to develop and expand within the Stena Line operation.

“Today’s additional £70m investment is a further commitment to the route. We believe we can not only consolidate our position as market leader on the Irish Sea but develop our products and services even further for the benefit of all our customers in the years ahead. We believe Stena Line will go from strength to strength and have made the necessary investment to ensure this happens.

"The proposed changes will enable us to make more return journeys with our Stena HSS vessel and will provide our customers with the double benefit of reduced journey times and a greater variety of departure times to choose from."

Parliamentary Under Secretary of State, Angela Smith welcomed the investment saying it represented "a very considerable investment" on the part of both the private and public sectors in Northern Ireland.

Construction work on the new terminals will start mid 2003 with a target completion date of mid 2005.

(MB)