Bernard Allen
Ceist:19 Mr. Allen asked the Minister for Education and Science the progress regarding the construction of a new building for the Cork School of Music; and if she will make a statement on the matter. [2895/05]
Amharc ar fhreagraThursday, 3 February 2005
Ceisteanna (23)
Freagraí scríofa
The Government decided last July that my Department should finalise contractual negotiations with Jarvis Projects Limited with the view to commencing construction of the Cork School of Music as soon as practical. Shortly thereafter Jarvis plc, preferred bidder for the CSM project, announced a profit warning on the London Stock Exchange. To help solve its financial difficulties it is at present selling off non-core elements of the company. One of the areas to be disposed of is the PPP/PFI company.
On 3 December 2004 it had reached an agreement with Hochtief Developments (UK) Ltd to purchase the Irish business interests of Jarvis. Following the announcement various issues surrounding the purchase were being completed and a revised proposal and documentation were received on 19 January. As Hochtief has now replaced Jarvis as a member of the bidding consortium it must satisfy the Department that had it applied under the terms of the original PPP advertised in 2000 it would have been one of the consortia that pre-qualified for the project. The new documentation is currently being examined by my Department's specialist advisers to the project who are also undertaking full financial and legal due diligence to ensure that the proposal meets all EU procurement rules.
It is expected that this examination will be completed and a report submitted to my Department's public private partnership unit for consideration shortly.
Subject to all necessary financial and legal issues being in order it will then be possible to commence formal negotiations with Hochtief Developments to complete the contract details to allow financial and commercial close for the project take place.