As I have already informed the House in response to a question from Deputy Allen, I announced on Monday evening, 22 June, that I have been informed by the chairman of the independent Management Board for Product Development (Bord Fáilte Area), of his board's decision to award a grant of approximately £25 million under the Operational Programme for Tourism, 1994-99, to the tender submitted by Spencer Dock International Convention Centre Ltd., for the development of a national conference centre at Spencer Dock, adjacent to Dublin's International Financial Services Centre. The total estimated cost of the conference centre being proposed is in the region of £80 million.
The decision of the management board is subject to Government and EU agreement on foot of a cost/benefit analysis which has been commissioned and is under way.