asked the Minister for Industry, Commerce and Energy the total amount of public money invested in SPS International Limited, Galway, by way of grants and so on; and the measures that are being taken to protect this investment.
Ceisteanna—Questions. Oral Answers. - Grants to Galway Industry.
26.
I am informed by the Industrial Development Authority that grants totalling £810,323 have been paid to SPS International Limited, Galway. In the event of closure the authority will take the usual steps to recover moneys repayable under the terms of the grant agreements with the company.
Are there enough assets in the company to ensure that the £810,000 owing to the State will be recouped?
The IDA have commenced discussions with SPS International Limited, Galway, about the repayment of the grant money which will become due following the closure of the company. I am not sure as to the exact asset situation.
Has the Minister no information on that?
No.