I propose to take Questions Nos. 631 to 633, inclusive, together.
As explained to the Deputy in my response to PQ No. 600 of 10 November, the Government's decision to include the new Metro North project in its Capital Plan Building on Recovery 2016-2021 was based on the conclusions and recommendations of the Fingal/North Dublin Transport Study, which was undertaken by Aecom on behalf of the National Transport Authority (NTA).
As part of the Study, the technical and operational feasibility, environmental impact and cost of each shortlisted scheme was developed and detailed transport modelling undertaken to understand how each scheme might respond to future travel demand within the Study area. The economic analysis established a comparative benefit to cost ratio of the new Metro North option as 1.5 indicating that it is the economically preferable project.
I am satisfied that new Metro North generates the highest level of transport benefits of all of the options assessed and has the highest number of additional public transport trips in the a.m. peak travel period, delivering the highest benefit to cost ratio of all of the options assessed. It will also deliver a connection right into the heart of the city, serving O'Connell Street and St. Stephen's Green.
The NTA, in their role as Sanctioning Authority, will now prepare the full business case for the project based on more detailed design and cost estimates prior to lodging the Railway Order for the proposed scheme. The comprehensive appraisal will be conducted in accordance with the Government's Public Spending Code.
I understand from the NTA that new revised Metro North retains a large proportion, possibly up to 50%, of the value of the almost €170 million invested to date in the original Metro North project. However the precise scale of the value retained will not be finally established until more detailed design and analysis has been completed.