asked the Minister for Industry and Commerce if there is any objection by him to the publication by the oil companies concerned of the details of the agreement for the establishment of a refinery.
Ceisteanna—Questions. Oral Answers. - Oil Refinery Agreement.
Mr. Lemass
Mr. Lemass
asked the Minister for Industry and Commerce whether the agreement for the establishment of an oil refinery provides for the subscription of all the capital required by the promoting companies, or if it is intended that capital will be obtained from any other source; and, particularly, whether any investment by the Government or any public issue of shares in the undertaking in this country or elsewhere is intended.
Mr. Lemass
asked the Minister for Industry and Commerce if the agreement for the establishment of an oil refinery provides for the maintenance of protective import duties by the Government, and, if so, if he will give particulars.
With the permission of the Ceann Comhairle, I propose to take Questions Nos. 3, 4 and 5 together.
The extent of the "agreement" referred to by the Deputy is that the oil companies concerned submitted proposals for the establishment of a refinery at Whitegate, County Cork, subject to certain conditions and undertakings, and I have accepted these proposals. As the Deputy is, no doubt, aware, it is not customary for details of industrial projects to be published in their initial stages, and he will, of course, remember that during his own period as Minister for Industry and Commerce that practice was not departed from even in the case of some unusually large undertakings. Promoters are, of course, free to publish details of their proposals and the position of the sponsoring companies of the oil refinery project is no different from that of any other promoters in this respect.
In regard to the provision of capital for the project, the sponsoring companies, as I announced in my public statement on 5th July last, will assume responsibility for the provision of the total capital of £12,000,000 involved. No investment by the Government is intended.
As to the Deputy's request for information (a) as to whether protective import duties will be maintained and (b) for particulars thereof, the answer to (a) is in the affirmative; while as regards (b) I am not prepared at this stage to make a statement on the matter.