(South Tipperary) asked the Minister for Industry and Commerce if he will state in respect of the Potez industry at Baldonnel, County Dublin (a) the amount of State investment or commitment by loan, grant, guarantee or otherwise, and (b) the value and form of investment by the Potez concern; and if he will, as recently promised, make a general statement on the matter and, in particular, on his recent discussion with M. Potez.
Ceisteanna—Questions. Oral Answers. - Potez Baldonnel Industry.
33.
The State commitments in respect of the Potez industry at Baldonnel are (a) grant of £463,000 to the manufacturing company, Potez Aerospace Ltd., in respect of land, buildings and general machinery and equipment, and (b) an investment of up to £1,500,000 in the development company, Aviation Development Ltd., which is responsible for design and development work and special tooling.
The amount of grant paid to date to Potez Aerospace Ltd. is £405,000 and the amount invested by Taiscí Stáit in Aviation Development Ltd. is £914,900.
It would be contrary to established practice to disclose information relating to the value and form of investment in the project by Messrs. Potez themselves, but I can say, as I indicated in reply to a question on 9th February, that the Potez investment is substantially higher than the State investment.
As regards the last part of the question, I have stated on a number of occasions recently that I will make a statement as soon as circumstances permit. The discussions with the company have not yet concluded and a premature statement could damage rather than help the situation.
Would the Minister say if the Potez investment is greater than the Government investment? Is it by way of cash or machinery? That is the nub of the question in the long run.
As I say, it is not the practice to give the form of the investment.
Mr. O'Leary
You leave us in doubt. I am sure it is not your intention to leave us in doubt as to whether this investment is fixed machinery and what its quantity and quality is.
(Interruptions.)
The Deputy should address the Minister in the third person.
Is the Potez investment greater than the Government investment? Is it by way of cash or by way of machinery? I should like an answer to that question.
As I say, it is not the practice to give the form of the investment. It might be unsatisfactory to do so but I have told this House on several occasions, and as recently as last week on the Estimate, that negotiations are going on. If the situation were as bad as some Deputies would hope it was, I could easily have made a statement long ago. Negotiations are at present going on and it would not be proper for me to make a statement. I have promised the House that I shall make a statement.
(Interruptions.)
Question No. 34.
(Interruptions.)
I have called Question No. 34.
(Interruptions.)
Question No. 34.
(South Tipperary): Do they intend now to produce planes there?
Yes. It is the declared intention of the proprietors to produce planes and parts.
(Interruptions.)
Question No. 34.