Further to the Government decision that a concession for the harvesting rights to Coillte’s forests be considered for sale, Coillte Board and management have engaged 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. Substantial work has been undertaken to date on the identification of the forestry assets involved, the determination of their value and the consideration of a number of issues associated with the proposed sale of the harvesting rights.
A Steering Group comprising of representatives from NewERA, the Department of Public Expenditure and Reform and my Department was formed to monitor the analysis process. This Group has met regularly and has also formally met with Coillte, and representatives of the Coillte Trade Unions and the Irish Timber Council. I am meeting regularly with the officials in my Department involved in the consideration process. The outcome of the overall analysis will be considered by the Government upon its conclusion and no decision has been taken as yet.