Dáil Éireann díospóireacht -
Tuesday, 9 Jul 1991

Vol. 410 No. 6

Written Answers. - Semi-State Bodies.

Eamon Gilmore

Ceist:

22 Mr. Gilmore asked the Minister for Industry and Commerce the plans he has for expansion and development of the commercial semi-State bodies for which his Department have responsibility; and if he will make a statement on the matter.

Minister for Industry and Commerce (Mr. O'Malley)

My Department have responsibility for two commercial semi-State companies, namely, Irish Steel and Nítrigín Éireann Teoranta.

In relation to Irish Steel, the Government's concern is to secure the future of the company and its workforce without further State subvention which is precluded by EC rules. The Government remain committed to the view that the best way to secure this is by way of an association with a suitable partner who will have the necessary financial resources and technical expertise to contribute to the continued viability of the company. The search for such a partner is continuing.

In the meantime, it is for the board of Irish Steel to decide how best to manage the development of the company having regard to the realities of the market. In this context, I am aware that the company have plans for substantial capital investment which I expect will be advised to my Department shortly.

Nítrigín Éireann Teoranta, since the formation of the joint venture with Imperial Chemical Industries, is now in essence a financial holding company. Expansion and development proposals for the trading activities formerly operated by NET are now a matter for the joint venture company, Irish Fertilizer Industries Limited.