John Deasy
Ceist:114. Deputy John Deasy asked the Minister for Finance the transport-specific projects that have been assisted to date under the Ireland Strategic Investment Fund. [3412/17]
Amharc ar fhreagraWednesday, 25 January 2017
Ceisteanna (114)
Freagraí scríofa
The Ireland Strategic Investment Fund has a dual mandate to invest on a commercial basis and support economic activity and employment in Ireland. To date, the following transport specific investment has been made:
- The rolling of an existing (NPRF) commitment in daa plc's public bond, which was issued in 2008 (repayable in 2018), into a €35 million commitment in a new 2028 public bond issuance by daa, the operator of Dublin and Cork Airports. This continues ISIF's role as a long-term, strategic, domestic investor in daa.
- In addition, the ISIF (and formerly the National Pensions Reserve Fund) provided contingent support for the PPP Project under which the N11 Arklow to Rathnew and N7 Newlands Cross road projects were procured. The ISIF investment related to the construction period and both road projects are now complete and fully operational.
These investments have a combined value of €57m. The economic impact of all investments by the Ireland Strategic Investment Fund (ISIF), which includes the Connectivity Fund, is outlined in the ISIF economic impact reports, which include regional deployment data. As at 30 June 2016, the ISIF economic impact report demonstrated regionally balanced investments with 58% of jobs supported and 45% of capital invested occurring outside of Dublin. That report is available at http://www.isif.ie/wp-content/uploads/2016/12/ISIFEconomicImpactH12016.pdf.
Other investment opportunities are currently being assessed under the ISIF's "double bottom line" mandate, which is to seek both commercial return and economic impact. These opportunities include potential investments in air and maritime transport infrastructure.