Gerry Reynolds
Question:89 Mr. G. Reynolds asked the Minister for the Marine and Natural Resources the monetary return to the State in relation to its forestry programme from 1960 to 1997. [3803/98]
Written Answers. - State Forestry.
The initial stages of the State's forestry programme were concerned with the development of a national State forestry asset.
The monetary returns from the forestry programme prior to the establishement of Coillte Teoranta in 1989 were essentially derived from the sale of timber during that period. These returns were reported annually to the Oireachtas and are available in the Appropriation Accounts for the years in question.
The value of the State's forest asset transferred to Coillte Teoranta on 1 January 1989 was £575 million and the State has received share certificates in respect of that value. I understand that between capital investment and growth within the forest estate, the current value of this asset is now in excess of £1,000 million. As the Deputy is aware, Coillte Teoranta is a commercial private company owned by the State and the company's annual reports detail its annual financial activities.
Gerry Reynolds
Question:90 Mr. G. Reynolds asked the Minister for the Marine and Natural Resources the contribution, in monetary terms, made by Coillte Teoranta to the State for each of the years from 1994 to 1997. [3804/98]
A total of £6.5 million in payments to the Exchequer by way of repayable advances was made by Coillte Teoranta in the years 1994-97, broken down as follows: 1994, £1.5; 1995, £1.5; 1996, £2.0; 1997, £1.5.
I am considering the development and introduction of a long-term dividend policy for Coillte Teoranta. My Department will be appointing consultants to advise on this matter shortly. The net profits realised by Coillte Teoranta to date have contributed to the company's ongoing major capital investment programme, which is now running at about £40 million per annum.