Vol. 411 No. 1
58 Mr. McGrath asked the Minister for Energy if he will outline his views on the proposal by Coillte Teoranta to sell the Lough Key/Rockingham Manor estate to an American consortium; if the sale of such a major local and national amenity will have to be approved by him in order to ensure that the national and local interest is protected; and if he will make a statement on the matter.
I have been informed by Coillte Teoranta that they are prepared to support and participate in this development project as a minority stake holder provided that the project is financially viable, that the promoters can raise the necessary finance, that a major hotel chain would be brought in to manage the complex and that the project would receive local support.
Any development which may arise from this proposal will be subject to planning approval. In addition, there are provisions in the Forestry Act, 1988, and in the company's Articles of Association which will ensure that a development of this nature, if it is proceeded with, will be subject to ministerial approval and I would, of course, have particular regard to the protection of local and national interests.
