Dáil Éireann debate -
Thursday, 24 Mar 1994

Vol. 440 No. 6

Written Answers. - Verolme (Cork) Dockyard.

Pat Cox

Question:

82 Mr. Cox asked the Minister for the Marine if his attention has been drawn to a potentially substantial boat building project which, with the aid of United States of America investment, has been proposed in respect of the Verolme Cork Dockyard, County Cork; the progress, if any, which has been made in relation to this proposal; and if he will make a statement on the matter.

Pat Cox

Question:

83 Mr. Cox asked the Minister for the Marine the number of jobs, if any, which have been created and sustained in ship or boat building activity in the Verolme Cork Dockyard, County Cork, since its disposal by the State.

Pat Cox

Question:

84 Mr. Cox asked the Minister for the Marine in respect of capital grants or assistance for training, the amount of money paid to the new owners of Verolme Cork Dockyard, County Cork since its disposal by the State; the activities in respect of which money has been paid; and the number of jobs involved.

Pat Cox

Question:

85 Mr. Cox asked the Minister for the Marine the specific constraints and/or obligations which were imposed by the State on the contract of sale for Verolme Cork Dockyard Limited, County Cork, at the time of its disposal by the State.

Minister for the Marine (Mr. Andrews)

I propose to take Questions Nos. 82 to 85, inclusive, together.

My attention has been drawn to a proposal for a US-backed boat building project based in Ireland, one possible location for which could be the privatelyowned Cork Dockyard Holdings Limited. I understand that Forbairt has had discussions with the Irish promoters of this project. The nature of these discussions is, understandably, confidential at this stage.

Cork Dockyard Holdings Limited has advised the Department that since the disposal of the yard by the State in 1991 ten jobs have been created and sustained. Additional casual employment on subcontract depends on the work available. Average casual employment has been 35 to 40 rising to a peak of 65.

I am advised that total capital grants approved by IDA-Forbairt for Cork Dockyard Holdings Limited since disposal by the State amount to £210,000 of which £171,605 has been paid. The grants relate to refurbishment of the yard and the purchase of new equipment. No training or other IDA-Forbairt grants have been paid. The grants are linked to normal IDA-Forbairt capital grant conditions and include a target of 59 jobs, including full-time equivalents of casual labour.

I understand that the agreement for sale of the Verolme Cork Dockyard Limited to Cork Dockyard Holdings Limited included an anti-asset stripping clause. The Minister for Finance and ICC Bank hold responsibility for the contract of sale.