The contract for the provision of a bundle of five post-primary schools was signed in November 2001 with Jarvis Projects Limited. The schools are Maria Immaculata Community College, Dunmanway, County Cork, Ballincollig Community School, Ballincollig, County Cork, St. Attracta's Community School, Tubbercurry, County Sligo, Largy College, Clones, County Monaghan and St. Caimin's Community School, Shannon, County Clare. All five schools were handed over to the Department within schedule by the end of 2002. These are the first schools built to date under the Government's PPP pilot programme.
I am actively identifying other possible education PPP projects. However, under EU rules, where projects are financed on a deferred payment basis by the private sector, such as public private partnerships, the capital value of such projects is a charge on the general Government balance over the construction phase. The GGB is the critical measure of what can be accommodated within our obligations under the Stability and Growth Pact of the Maastricht Treaty. A EUROSTAT group is currently reviewing the accounting rules on this issue as will a standing committee established by my colleague the Minister for Finance to advise on the GGB implications of private sector financed projects. Consideration of any new PPP projects will also be based on an evaluation of the completed pilot PPP schools project together with a thorough assessment of affordability of the project in the context of the competing demands on the likely capital funding envelopes going forward and taking into account the issues surrounding the general Government balance.