Dáil Éireann debate -
Thursday, 18 Nov 1993

Vol. 435 No. 11

Written Answers. - Bord na Móna Financial Restructuring Proposals.

Thomas P. Broughan

Question:

78 Mr. Broughan asked the Minister for Transport, Energy and Communications if he is in a position to agree to the proposal from Bord na Móna to the ESB whereby the ESB would take responsibility for the repayment of £126.4 million of Bord na Móna debt in return for cheaper milled peat in view of the apparent economic advantages of the proposal to the two commercial State bodies concerned and to the Government.

Minister for Transport, Energy and Communications (Mr. Cowen)

I have recently received a proposal from Bord na Móna for the financial restructuring of the group, involving, among other things, the repositioning of some of the boards' debt. This proposal is being evaluated at present in my Department.