Tuesday, 27 February 2018

Questions (603)

Clare Daly

Question:

603. Deputy Clare Daly asked the Minister for Transport, Tourism and Sport the reason €320 million has been put aside in the national planning framework for the runway at Dublin Airport which the daa was due to finance; and if he will make a statement on the matter. [9366/18]

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Written answers (Question to Transport)

This national development plan sets out the significant level of investment, almost €116 billion, which will underpin the national planning framework and drive its implementation over the next ten years. €91 billion in Exchequer funding for public capital investment has been allocated and will be supplemented with substantial investment by commercial State owned enterprises.

Commercial State-owned enterprises are a significant tool in delivering public infrastructure objectives without the need for Exchequer funds, including in particular energy, public transport, ports and airports.

As the deputy is aware, daa announced its plans to proceed with the construction of the North Runway in 2016. The runway is estimated to cost in the region of €320 million in 2016 prices.     

The daa finances all major capital projects from debt and retained earnings and the company is in a strong position to secure financing for the north runway. Separately, the commission for aviation regulation has established a funding mechanism for recoupment towards the cost of construction of the runway.