Dáil Éireann Debate, Wednesday - 28 March 2012
278 Deputy Bernard J. Durkan asked the Minister for Transport, Tourism and Sport if he intends to examine further the possibility of reviewing capital projects whose benefits have a positive economic benefit directly or by public private partnerships; and if he will make a statement on the matter. [17255/12]
Amharc ar fhreagraFunding for transport capital projects for the period 2012-2016 was determined in the context of the capital review carried out last year. A key priority when selecting projects was to protect existing investment and maintain safety standards. Following this, priority was given to projects and programmes which are affordable and provide value for money, contribute to economic recovery and transport objectives, including adding value to existing infrastructure and services.
Given the overall Exchequer funding position, affordability of new projects was a key factor. If a project cannot be afforded, the arguments pertaining to economic return are irrelevant. Many road and public transport projects with strong business cases have been postponed for consideration in advance of the next capital programme to be agreed before 2016. Of course should additional Exchequer funds become available for transport in the interim some of these projects will be progressed.
The use of Public Private Partnerships (PPPs) as a delivery mechanism for capital investment where appropriate will also be kept under review. A number of road PPP projects have been successfully delivered in recent years. However, the successful awarding of a major PPP contract involving private funding is challenging at any time but is particularly challenging in current circumstances where Ireland has been the subject of intervention by the IMF/EU. Nevertheless, work is continuing with a view to seeking to finalise a contract for the N7/N11 PPP road project.
