Further to the Government decision that a concession for the harvesting rights to Coillte’s forests be put forward for sale, the National Treasury Management Agency, via its NewERA Unit, has been actively engaged with Coillte, the Department of Public Expenditure and Reform and my Department to examine the financial and other implications of a potential transaction.
Substantial work has been undertaken to date on the identification of the forestry assets involved, the determination of their value and the consideration of a number of issues associated with the proposed sale of the harvesting rights. The outcome of the overall analysis will be considered by the Government upon its conclusion. This whole process is a very complex one and it is not possible at this stage to pre-empt the outcome of the analysis or to give an estimate of the possible net proceeds. As I have said previously, the Government will proceed with caution in relation to this matter and no final decision has been taken, as yet.
NewERA, the Department of Public Expenditure and Reform and my Department received a copy of the report, “Assessment of the Consequences of the proposed Sale of Coillte’s Timber Harvesting Rights – 10 January 2013 ” by Peter Bacon and Associates, commissioned by IMPACT, at the end of last month at a meeting with the Coillte unions. The report and its findings are currently being analysed as part of the consideration process.