The national development plan includes a target of £100 million in private finance to support public investment in the area of water supply. In seeking to meet this target the Department has identified the sector involving the provision or upgrading of water supply and treatment facilities as being the most suitable for the use of private finance.
In this context, the Clareville water treatment plant has been approved as a PPP project using the design, build, finance and operate model. This project forms part of an investment strategy, with a total investment of up to £100 million, which will significantly upgrade the water supply infrastructure in the Limerick region. The financial impact of using this model on Limerick Corporation is intended to be neutral in so far as capital spending is concerned.
The expected benefits of carrying out this project using the PPP approach include better value for money, through the use of more innovative design and lower whole life costs, and faster implementation of the project in the context of the overall water strategy for the Limerick region.