asked the Minister for Industry and Commerce if any progress has been made by Potez Limited towards full production and employment at their factory at Dublin; and if there is any provision for the repayment of grants and loans afforded from Government sources if full production and employment is not achieved.
Ceisteanna—Questions. Oral Answers. - Employment at Potez Factory.
114.
Some progress has been made since the date of the Deputy's last inquiry but it has been slight. Discussions are at present in progress with the company with a view to speeding up the development of the project.
There have been no loans to the company from State Funds. As I informed the Deputy on 23rd June last, the forms of State assistance to the project have been a grant by An Foras Tionscal to Potez Aerospace Ltd. and an investment by Taisci Stáit in the Ordinary share capital of Aviation Development Limited. There is no provision for the repayment of the grant given by An Foras Tionscal in the event of full production and employment not being achieved.
In view of all the publicity this industry has received, could the Minister say whether it was agreed at any stage that the Government would underwrite any losses arising as a result of the operation of this industry? Secondly, does the Minister know if they have any orders on hands for planes? Has he met the directors and have they, in fact, any orders? That is the important thing as far as I see it.
The money involved is as I stated here.
There was no further commitment.
No further commitment.
Would the Minister refresh our minds as to what the grant was. Was it £1,000,000?
I have not got it here. The total sum was about £1,000,000.
There was no money left for Greenmount & Boyne after this.
Have they any orders?
The management have been over and I have sent people to meet them. They are quite confident that the project will go ahead. I understand they have orders.
They have an order for a plane?
I understand they have, but I have no detailed information here.
All this is efficiency, you see.
Mr. O'Malley
They will never sell as many planes as the Coalition did.
I want to see the project succeeding.