Dáil Éireann debate -
Tuesday, 27 Nov 2001

Vol. 545 No. 1

Written Answers. - Land Holding.

John Dennehy

Question:

112 Mr. Dennehy asked the Minister for the Marine and Natural Resources if, further to Parliamentary Question No. 165 of 13 November 2001, he will indicate the lands which his Department owns or has leased to a company (details supplied) at Haulbowline, County Cork; the way in which these are affected by the liquidation of the company; the market value of the land in question; and if he will make a statement on the matter. [29920/01]

Minister for the Marine and Natural Resources (Mr. Fahey):

A composite lease dated 22 May 1996 was agreed between the Minister for Finance, the Minister for the Marine and Irish Steel Limited for a term of 35 years. Irish Steel Limited was sold on 30 May 1996 and the company's name was changed to Irish Ispat Limited. Irish Ispat Limited is in voluntary liquidation at present. The total leased area, was approximately 16.75 hectares. The lease interest in these lands now rests with the liquidator, who is also responsible for the associated lease payments The liquidator may (a) seek to dispose of the interest in the leases to a third party, subject to the consent of the Minister for the Marine and Natural Resources in consultation with the Minister for Finance or (b) surrender the lease to the Minister as lessor. The current market value of the land in question is not known.

Since the appointment of the liquidator, my Department in consultation with the Departments of Finance and Defence has been carefully monitoring the situation and has written to the liquidator seeking clarification of a number of issues. The Deputy can rest assured that every care will be taken to ensure that the State's interests are fully protected and that the liquidation process will be closely monitored to ensure the best long-term use of the leased area. I have arranged for a copy of the map showing the lands in question to be provided to the Deputy.