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Ferry port announcement expected £200m investment in ferry switch
(about 6 hours later)
A major announcement is expected about the future of Stena Line's Irish Sea ferry operations in Stranraer. Ferry firm Stena Line has announced a £200m investment in plans to move its operations from Stranraer.
It is believed it will confirm the company's relocation to nearby Cairnryan in order to make the crossing to Belfast quicker and save fuel. It will transfer to a new base nearer the mouth of Loch Ryan to cut journey times and reduce costs.
First Minister Alex Salmond and Stena owner, Dan Sten Olsson, are scheduled to make an announcement in Edinburgh. The company said 900 jobs would be created during the construction phase and 500 ferry jobs safeguarded.
The ferry port move would also allow a masterplan for the regeneration of Stranraer waterfront to proceed. The ferry port move will also allow a masterplan for the wider regeneration of the waterfront area of Stranraer to proceed.
Stena's intention to leave Stranraer was first signalled in February 2003 with its proposed relocation site further up Loch Ryan at Old House Point.Stena's intention to leave Stranraer was first signalled in February 2003 with its proposed relocation site further up Loch Ryan at Old House Point.
Shortly afterwards the company began talks with rivals P&O to look at sharing expanded facilities in Cairnryan.Shortly afterwards the company began talks with rivals P&O to look at sharing expanded facilities in Cairnryan.
However, in 2007 those plans were dropped due to the prohibitive costs involved.However, in 2007 those plans were dropped due to the prohibitive costs involved.
Last year Stena Line revealed it would revert to its original plans and make the move to Old House Point.Last year Stena Line revealed it would revert to its original plans and make the move to Old House Point.
It is expected the announcement will confirm those proposals can now go ahead. An announcement has now confirmed the investment to allow those proposals to go ahead.
Galloway and Upper Nithsdale MSP Alex Fergusson welcomed the move.
He said: "This formal announcement signals the start of a new era not just for Stena, but for the town of Stranraer itself.
"Many will be nervous about what the future holds in store, but I take an optimistic view.
"I applaud Stena's decision, which will tie the company to Loch Ryan for the foreseeable future, and it opens up a potentially fantastic future for a dramatic redevelopment of Stranraer harbour waterfront."