Dáil Éireann Debate, Tuesday - 12 February 2013
583. Deputy Martin Ferris asked the Minister for Agriculture, Food and the Marine if plans to amalgamate Coillte and Bord na Móna in a new entity, NewERA, have been abandoned; and if that was a consequence of the troika's opposition to investment in new public companies. [7104/13]
View answerThe Government established NewERA, in September 2011, to change the way Government manages its shareholding in the semi-state sector by adopting a new portfolio approach. A specific responsibility of NewERA is to review the capital investment plans of selected commercial semi-state companies and to identify possible synergies between investment programmes of different state companies. NewERA will also work with Departments to develop and implement proposals for investment, in line with Programme for Government commitments in energy, water and next generation telecommunications. NewERA has been established initially as a shareholder executive model to better manage the State holdings in commercial semi-states. It is responsible for corporate governance from a shareholder perspective in companies such as the ESB, Bord Gáis, EirGrid, Bord na Móna and Coillte.
As the Deputy is aware, consideration is ongoing in relation to the Government decision that a concession for the harvesting rights to Coillte’s forests be put forward for sale. NewERA has been actively engaged with Coillte, the Department of Public Expenditure and Reform and my Department to examine the financial and other implications of a potential transaction. The consideration process is at an advanced stage. However, no final decision has been made yet regarding any aspect of Coillte’s future.
