asked the Minister for Industry and Commerce what the present position is with regard to the guarantee given to the promoters of the Cork dockyard project.
Ceisteanna—Questions. Oral Answers. - Cork Dockyard Project.
35.
The financial arrangements relating to this project were negotiated between the promoters and the Industrial Credit Company Limited. As the Deputy is aware, it is not the practice to disclose particulars of agreements made between the Credit Company and individual industrial promoters.
Does the Minister recall that when the Industrial Credit (Amendment) Bill was being discussed in the Dáil before the Recess, the Minister for Finance explained that an umbrella guarantee had been given to the Dutch promoters in regard to this project whereby, if they could not bring their funds out of Holland, the Industrial Credit Company was to make good the amount, the suggested figure being £4 million to £5 million? In view of that fact, does the Minister not feel that this is a matter that has already been disclosed to the public and that the public are entitled to know whether or not this capital is being brought out from Holland and invested in this country? There is no secret about it.