As advised in my reply on 17th July 2012, the Government decided, in the context of the State asset disposal programme, that consideration would be given to the sale of certain assets of Coillte, excluding the land. The Government decided to proceed on the basis that a long-term concession contract for the harvesting rights to Coillte’s forests represents the best option for extracting value from Coillte.
The process is still at a preliminary stage as a number of issues have been identified in relation to the proposal including Coillte’s strategic importance within the forestry sector, implications for employment, recreational access to Coillte forests and the protection of People’s Millennium Forests located in the Coillte forest estate, all of which require in-depth consideration.
While certain work was done on the valuation of Coillte assets by the NewERA unit of the National Treasury Management Agency (NTMA), in conjunction with my Department and the Department of Public Expenditure and Reform, in advance of the decision, further work is required. Coillte Board and Management have been actively engaged in recent months with NewERA, the Department of Public Expenditure and Reform and my Department to examine the financial and other implications of developing the potential of Coillte’s forest assets.
