A consortium of business people from the South West region, led by West Cork Tourism have formed a co-operative in the hopes of raising €3 million euro in the coming days for the resumption of the Swansea Cork ferry service.

The newly formed co-operative are seeking 300 people to pledge €10,000 each as a source of investment to support the re-opening of the Swansea-Cork Ferry Service.
A suitable ship is now available for purchase at a cost in the region €10 million, of which the co-operative will be expected to provide €3 million with an additional €6 million coming from a loan issued by a bank that has a vested interest in the boat.

If successful, the initiative will translate to hundreds of jobs for the region; figures from 2007 show that the ferry is worth €50 million to the region. Mr. Conor Buckley, chairman of West Cork Tourism, said, "It is vital that we secure a ferry service this year. If we can raise €3 million from the industry – over the next seven days – we will have the potential to unleash a €250 million dividend over the next five years.”
In December 2008, the Port of Cork commissioned a business plan – prepared by STS International – which is based on realistic assumptions about traffic volumes, rates and fuel prices and it concludes that this is an attractive opportunity, combining low risk with a real opportunity for a financial return.

For further information on the Swansea – Cork Ferry Campaign, the co-operative model, and fund-raising efforts / events, please contact Mr. Paul O'Brien (087 7857619; West Cork Tourism offices, The Rectory, Cork Road, Skibbereen, Co. Cork) and visit the website.