28/11/2008

Belfast Pumps Millions Into Titanic Project

A £10 million contribution to the ground-breaking Titanic Signature Project is expected to be ratified by Belfast City Council next month.

Councillor Diane Dodds, Chairperson of the Strategic Policy and Resources Committee, welcomed yesterday's announcement by the Northern Ireland Executive offering up to £43.5million toward the £97 million Titanic Quarter Limited proposal for the initiative and said that a special Council meeting on 16 December is expected to rubber-stamp Belfast's contribution.

Councillor Dodds said: "Belfast City Council has already agreed in principle to contribute £10 million to the project.

"The Council had to wait until the Executive made its decision and now that is in place we can proceed with our planned meeting in December.

"The timing will allow work on the project to begin in January, as outlined by the Executive," she explained.
News Image
"Without wishing to pre-empt our discussion, I think that the response will be positive, given that this project will create 600 construction workers jobs and 250 permanent jobs.

"It is important in the current economic climate that we don't limit ourselves to short term fixes but also take a long term view," she continued.

"There is clear evidence that this will prove to be is a significant investment that will result in consolidating and growing the Belfast tourism product, which we all know has been a major success story in recent years.

"It will also reinforce Belfast's position as the tourism gateway and all of Northern Ireland’s tourist attractions will benefit as a result," she said, noting that, in bringing the Titanic story back home to its birthplace now, it will be in time for its centenary, which is expected to attract up to 400,000 visitors, who will spend up to £30m each year."

As well as Belfast City Council's £10 million contribution towards the remaining £53.5 million, it is expected the rest will come from Titanic Quarter Limited and Belfast Harbour Commissioners.

(BMcC/KMcA)

Related Northern Ireland News Stories
Click here for the latest headlines.

02 December 2019
Other News In Brief
L'Derry To Remember Those Killed In Conflict The Mayor of Derry City and Strabane District, Councillor Michaela Boyle, is set to hold a special Day of Reflection in memory of all those who have lost their lives through conflict.
22 April 2008
Tunnel Breakthrough For Belfast Sewers Project
Nearly a mile long and 40 metres below ground, a key section of Belfast's deepest tunnel was completed yesterday as the tunnel boring machine (TBM) made its breakthrough at Duncrue Street. Capable of holding vast overflows of stormwater - up to four million gallons - it will reduce the risk of sewer flooding in the greater Belfast area.
10 December 2019
The Open Generates £100m For Local Economy
There's few events from the last year that will be as memorable as the 148th Open in years to come, when Royal Portrush played host to tens of thousands of visitors who watched on as Irishman Shane Lowry lifted the Claret Jug.
22 January 2013
Heavy Snow Closes Over 80 Schools
Over 80 schools across Northern Ireland have been closed as the heavy snow continues to cause disruption on Tuesday morning. The Met Office has issued a yellow weather warning, as the snow is continuing to affect many roads. Areas which have been majorly disrupted include Lisburn, Castlereagh and Carryduff.
19 October 2007
Funding Blow For Titanic Project
Belfast's Titanic Signature Project - showcasing the city's maritime and industrial heritage – and likely to cost an estimated £90m, has suffered a setback.