Paul Connaughton
Question:44 Mr. Connaughton asked the Minister for Energy the proportion of Bord na Móna borrowings which are guaranteed by the State; and whether the non-guaranteed borrowings are secured against assets of the board.
Written Answers. - Indebtedness of Bord na Móna.
Mervyn Taylor
Question:63 Mr. Taylor asked the Minister for Energy if he will outline the current indebtedness of Bord na Móna; if he has any plans to improve the capital structure of that company, and if he will make a statement on the matter.
I propose to take Questions Nos. 44 and 63 together.
Total Bord na Móna debt, as of 13 June 1990, was £181,282,086. Of this £148,498,519 is guaranteed by the State and the remainder is unsecured.
As I indicated in this House some weeks ago on Report Stage of the Turf Development Bill, 1988, the current financial difficulties of Bord na Móna and the question of their future financing are being comprehensively reviewed by my Department. No decisions have yet been taken by the Government as to how these will be dealt with. I am not, therefore, in a position to make any statement on the matter at this time beyond assuring the Deputy that I will be placing my conclusions before Government in the very near future.