A €3million EU grant, for two Shannon Foynes Port Company projects, has been described as a major validation of plans to transform the Shannon Estuary into a national economic corridor. The company will receive €2.2m funding for its East-Jetty-Infill-Programme at Foynes and a further €800,000 for a feasibility study on the regeneration of the rail link between Limerick and the port. The funding round is the first that Shannon Foynes Port Company will receive under the EU’s Trans European Transport Network programme. Company CEO Pat Keating said the grant aid was essential in the delivery of the company’s long-term plan. He added it’s an acknowledgement of the potential for economic activity along the estuary – but stressed the urgency of upgrades to the N69.