The Port of Waterford may have to branch out into the high-growth roll-on roll-off freight business (roro) in order to rebuild the substantial revenue lost in the collapse of Bell Lines. The Minister for the Marine, Dr Michael Woods, on a visit to Waterford yesterday, confirmed that the State - in other words, the taxpayer - will make up any shortfall in the £1.246 million repayments due next year on a European Investment Bank loan made to the Waterford Harbour Commissioners for port development.

Launching an outline strategy agreed with the Commissioners for the recovery of the lost business, Dr Woods hinted at closer central Government involvement in the future running of the port. He began discussions yesterday with the Harbour Board on the marketing and management strategies to be adopted in the wake of the Bell collapse.

Promising the port authority assistance on both marketing and business development, he asserted that the taxpayer would be happy to fund the probable deficit on the European loan repayments "provided we turn this into a first-class facility which will generally contribute to the economic development of the region as a whole". The new strategy aims to bring Waterford's Belview Port back to the 20 per cent market share of the national lift-on lift-off (lo-lo) freight traffic which it handled prior to the decline of Bell.

Dr Woods said the objective within 12 months was to achieve a target rate of up to 55,000 forty-foot containers a year being handled by the port, with a longer term target of over 100,000 containers per year.

He said he would be looking at the structures of the Harbour Board and the arrangements needed to ensure this growth. "As far as I'm concerned, this port is going to stay in business and is going to be a major regional port," he said. There were already strong signs of renewed market interest in the port facilities and services.

The Waterford Harbour Commissioners had been heavily dependent on the Bell Lines business to provide the substantial revenues required to meet the outstanding debt repayment commitments.

Insurance policies on the debt will cover the inevitable shortfall up to the end of this year, but the State will almost certainly have to carry a major portion of next year's liabilities as the port business is rebuilt.

The new strategic marketing plan includes the restructuring and consolidation of Waterford's major lo-lo market share, and development of its subsidiary bulk liquid, break-bulk and bulk solid business.

But it also commits the port authority to investigate the potential of niche opportunities in the ro-ro sector, in which Waterford has not previously been involved. Shipping of ro-ro freight vehicles, loaded and empty, grew by 52 per cent in the Republic last year.

The strategy includes the development of strong relationships with key customers and significant end shippers by means of an enhanced and more focused marketing effort.

It also points to the need for well-managed public relations following the liquidation of the Bell Lines Group, "to ensure clear communication of the new scenario and to restore confidence of the business community, customers and key influencers in the port". Dr Woods also met representatives of the former Bell staff in Waterford yesterday and undertook to put their concerns to the Minister for Enterprise and Employment. He said he was hopeful the Bell liquidator would succeed in securing the future of the core business of the group so the maximum number of jobs could be saved.