Following on his provision in the Budget of a €43.5 billion capital investment programme for the period 2006 to 2010, of which €5.5 billion of the investment will be provided through PPPs, the Minister for Finance, Brian Cowen, TD, today (9 December 2005) reported that significant progress is being made on advancing PPP projects which will form an important part of building the nation’s capital stock.

Addressing the IBEC PPP Council Christmas lunch, the Minister said he was pleased that the PPP approach to public capital procurement is now making a real impact and is delivering large infrastructure projects well ahead of schedule. He mentioned the Dundalk Western By-Pass which opened five months ahead of schedule and the Kilcock-Kinnegad motorway, to open next Monday, is eleven months ahead of schedule as good examples of how the PPP approach can make a real difference.

The Minister said that the PPP approach has allowed Dublin City Council, working with the National Development Finance Agency (NDFA), to successfully complete the first phase of the Fatima Mansions Housing Redevelopment project. A further phase of that project and other social and affordable housing programmes in the Dublin area will also be procured through the PPP approach.

The Minister also said that the NDFA is playing a key role in ensuring that Departments and other State Bodies can deliver key capital projects using the PPP approach. The Centre of Expertise in the NDFA continues to expand and is building up the necessary skills which will assist the Department of Education and Science in delivering its €300 million plan to provide 23 new post-primary schools and four new primary schools through PPPs from 2006 to 2009. Other projects to be delivered by the PPP approach, such as the national network of Radiation Oncology Treatment Centres and the Criminal Courts Complex will also be assisted by the Centre of Expertise.

The Minister concluded by saying that the much improved PPP environment where deal flow is increasing, processes are being improved and structures are now developed will ensure that PPPs are facilitated where they are appropriate.

Ends.