merrion street

Minister Brendan Howlin has warmly welcomed the announcement by his colleague Minister Leo Varadkar TD that the latest Public Private Partnership (PPP) road- the N11/Newlands Cross – has been signed off on by all partners and that work will now begin on this important project. This project will add to the stock of economic infrastructure in the State and will create and sustain important jobs in the construction sector.

Minister Howlin said

‘I am very pleased that we have achieved sign off on the latest roads project to be delivered using the Public Private Partnership model. This is an important PPP which encompasses two projects.

The N11 Arklow / Rathnew Scheme will form part of the N11 Rosslare to Dublin route and is also part of Euro-route E1. The scheme also incorporates the upgrade of the N7 Newlands Cross Junction. More specifically the scheme comprises the following separate elements:

• N11 Rathnew to Arklow Road Improvement Scheme (16.5km of new dual c/way linking the existing M11 Arklow Bypass and M11 Ashford/Rathnew schemes); and

• N7 Newlands Cross Junction Upgrade Scheme (Replacement of existing signaled controlled at-grade junction with a grade separated junction on the N7)

The EIB has agreed to provide 50% of the project debt of approx. €120m for the N11/Newlands Cross PPP. The Bank of Ireland is the other co-funder for the project. It has taken some time to get agreement with all the partners on this projects and I would like to acknowledge the efforts of all those involved including the NRA, the Department of Transport and our funding partners the EIB and Bank of Ireland and the PPP Consortium Bam Ireland.

I also welcome the continued support and commitment of the EIB in the provision of our national infrastructure. This commitment is an indication of their confidence in our PPP Market and in our track record of delivery of successful PPPs.

I look forward to working with them and others in the delivery of our new PPP programme.

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