asked the Minister for Energy the reason he has decided that the Irish National Petroleum Corporation should engage in a pilot fish farming scheme on Whiddy Island, County Cork, rather than have such activities developed by another public or private enterprise firm with existing expertise in the area of fish farming; and if the development of fish farming comes within the functions of the INPC.
Written Answers. - Whiddy Island (Cork) Scheme.
21.
The INPC's mandate as owner of the Whiddy Island oil terminal permits it to pursue all prospects for the establishment of a revenue earning, employment generating activity at Whiddy, while at the same time taking appropriate steps to have the potential of the terminal as an oil storage and transhipment facility realised to the maximum degree. The INPC identified the possibility of fishfarming as an alternative revenue earning activity.
What is involved at present is a pilot project using one tank on a joint venture basis with a Norwegian company which is supplying the expertise and the necessary funds. This pilot project is due to be completed in 1988 when the position will be reassessed. As a general principal, this Government are in favour of State agencies diversifying into other activities, provided this can be done on a sound commercial basis.
Authority for INPC to engage in the project is governed by Article 101 of its articles of association which permits the INPC to engage in activities outside its oil related activities provided ministerial approval is given with the consent of the Minister for Finance. In this case this was provided on 16 February 1987.