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Swansea-Cork ferry negotiations continue
A consortium of investors, led by West Cork Tourism, remains hopeful that plans to re-establish the Swansea-Cork ferry service between South Wales and Ireland will succeed.
Negotiations are continuing to secure the purchase of a vessel to resurrect the sea link across the Irish Sea, which was halted more than two years ago despite being worth more than 50m euro (£45.9m) to the West Cork region, according to 2007 figures. The group had been looking to raise 3m euro (£2.8m) in order to help raise the funds needed to purchase the vessel, and is now calling upon those who have pledged money to contribute urgently.
In addition to the consortium's fundraising efforts, a bank loan worth 6m euro (£5.5m) would also contribute towards the purchase. Working capital has also been sourced from Cork County Council and Fáilte Ireland.
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