Austin Deasy
Ceist:137 Mr. Deasy asked the Minister for Public Enterprise the additional State enterprises under her control, other than Aer Lingus, which are due to be privatised; and if she will give details of the timescale involved. [12854/01]
Written Answers - Commercial State Companies.
I have said on many occasions that questions about the future ownership of commercial State companies fall to be determined on a case by case basis in the context of developments in their main business areas.
The following is the position in relation to the commercial State companies under my aegis. In regard to the Córas Iompair Éireann group of companies, the consultation paper entitled A New Institutional and Regulatory Framework for Public Transport was published by the Government in September 2000. It sets out a number of proposals in relation to the restructuring of the CIE companies including the possible privatisation of the bus companies. These proposals are currently the subject of consultation with the public transport partnership which was established under the terms of the Programme for Prosperity and Fairness.
Under the terms of the Government's decision of 23 February 1999, Irish National Petroleum Corporation initiated an extensive search process to identify business development opportunities to underpin the operation of the Whitegate refinery.
Four definite proposals were submitted to the INPC. The INPC board recommended the submission received from the Tosco Corporation to acquire the refinery and the Whiddy oil terminal. The proposal involves a commitment to operate the facilities in question for a minimum of 15 years. The consultants who are advising me in relation to the proposed deal subsequently endorsed that recommendation.
As I announced on 31 July 2000, I authorised INPC to enter into a period of exclusive negotiations with the Tosco Corporation for the sale of the refinery, the oil terminal and the INPC business. The National Oil Reserves Agency is not included in the terms of the sales.
This announcement followed an extensive search for potential partners, submission of expressions of interest and receipt of firm proposals, which were rigorously reviewed before shortlisting and final selection.
INPC and Tosco have had detailed negotiations since then. I have just received a recommendation from the INPC board in favour of concluding a transaction, which I am considering. My Department and the Department of Finance, with the aid of legal and economic consultants, have been directly involved in the negotiations in respect of shareholder issues. Assuming that I decide to put this matter forward for Government approval, the transaction could not be completed without primary legislation which in turn will influence the timeframe. There are other issues also to be resolved, not least in relation to the employees.