Tuesday, July 17 14:21:34
Minister for Public Expenditure and Reform, Brendan Howlin today announced the Government's plans for an additional E2.25 billion investment in job-rich public infrastructure projects in Ireland.
The stimulus is expected to create up to 13,000 new jobs, the Government said.
The bulk of the funding will come from a combination of the NPRF (National Pensions Reserve Fund); European Investment Bank/Council of Europe Bank; Domestic Banks and other potential private investment sources, he said.
The package contatins E280m for the education sector to provide 12 new or replacement schools - mainly post - primary - from Clare to Kildare, Cork and Louth.
The DIT will consolidate its current 39 sites and 36,000 students at Grangegorman.
A Luas project which would stop at the rangegorman site is already planned under the existing capital programme.
The health package involves E115m for around 20 primary care centres around the country.
An allocation of E850m is being made for upgrading the national motorway and primary route network.
Projects include the N17/N18 Gort to Tuam motorway, bypassing Clarinbridge, Claregalway and Tuam.
The M11 Gorey to Enniscorthy project will include a bypass of Enniscorthy.
"Today's announcement is the culmination of intensive efforts to identify projects that are realistic, credible and deliverable. This Government is committed to getting people back to work and securing real, domestic growth. This investment is in addition to our E17 billion "Infrastructure and Capital Investment Framework" I published last November which focused on the Government's clear priorities of creating jobs, building schools and improving our health system. Today's announcement builds on this. Job creation is this Government's top priority. It is estimated that Phase 1 of our PPP programme will generate up to 13,000 jobs. The focus for Phase 1 is on projects in the Education, Health, Transport and Justice Sectors. These projects reflect the Government's priorities, meet infrastructure needs, are labour intensive and provide value for money for the State," the Minister said.
"We are now confident that we will be able to put the correct funding structure in place to ensure delivery of these important projects. Today's additional E2.25 billion multi-annual plan of infrastructure investment will be used to facilitate the delivery of Phase I of a PPP programme and to support further labour intensive capital projects. Based on information supplied by Departments procurement for Health projects will commence by end 2012 with procurement in Education, Justice and Transport commencing in 2013."