merrion street

Minister of State Brian Hayes was in London yesterday (10-Sept-2013) to promote investment opportunities in Irish Infrastructure. These projects arise from the Government’s €1.4 billion investment in Phase 1 of the Public Private Partnership programme – latterly supplemented by a subsequent pipeline of €250 million announced by Minister Howling over the summer.

At an event hosted by City infrastructure investment experts, Osborne Clarke, Minister Hayes addressed a large audience drawn from over 60 investment companies and other infrastructure-related stakeholders.

Underlining the Government’s commitment to this programme Minister Hayes noted that…

“The Government has been working hard to stabilise the economy and public finances. Our debt position has improved significantly resulting from the State’s financing needs falling by €40 billion over the next decade. Our deficit is coming under control and we aim to exit the Troika Programme at year-end. We’ve seen 45,000 jobs added to the workforce over the last 15 months. Confidence is beginning to return. The Government views this programme as adding momentum by delivering 13,000 direct jobs in the construction sector.”

Also present was Brian Murphy, CEO of the National Development Finance Agency. He informed the audience that the ambitious Phase 1 deadlines are been met, and how the programme design takes on board investor feedback by way of streamlined procurement processes and measures to promote investor interest and confidence. He also noted today’s launching of the procurement process by Education Minister Ruairí Quinn in respect of the €180 million Grangegorman campus.

Responding to questions from the floor, Minister Hayes noted that,

“The emerging levels of interest here in London and elsewhere are encouraging, particularly when our economic outlook is beginning to brighten. Getting essential and strategic projects in the health, justice and education sectors off the ground is central to meeting the Government’s commitment to inject jobs back in the domestic economy.”

Minister Hayes’ London itinerary also took in IDA and Embassy arranged engagements in the areas of financial services and public service reform.

ENDS

For more information on the PPP Programme see the Department of Public Expenditure & Reform website, www.ppp.gov.ie and www.ndfa.ie