Vol. 498 No. 3
53 Mr. McDowell asked the Minister for Public Enterprise if CIE has submitted its property portfolio report to her; if it is still her intention that CIE should dispose of all property surplus to public transport requirements; if not, whether she will allow the company to continue to be involved in joint venture projects thus enabling it to create a constant stream of income from this source; and if she will make a statement on the matter. [26921/98]
I recently received the report which I requested from CIE on the scope for generating funding for capital investment through property disposal. The report is currently being considered by my Department.
Because of the scale of the medium term public transport investment needs identified by the company, I am of the view that CIE should dispose of property which is surplus to its public transport requirements in order to help fund that investment. I also remain of the view that, while existing contractually binding joint ventures should be honoured, arrangements should be put in place to generate cash in the short-term from those projects for investment in public transport.
