Wednesday, 22 May 2019

Ceisteanna (172)

Declan Breathnach

Ceist:

172. Deputy Declan Breathnach asked the Minister for Communications, Climate Action and Environment the equity being invested in the national broadband plan; the way in which the plan is being financed; the way in which the consortium awarded preferred bidder status is being financed; and if he will make a statement on the matter. [22220/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Communications)

National Broadband Ireland (NBI) is a new entity established by Granahan McCourt for the purposes of delivering the NBP. It is this company that will be the signatory to the NBP Contract. The equity of NBI will be invested in NBI via a holding company as would be typical for projects such as this. The holding company will be wholly owned by Granahan McCourt Dublin (Ireland) Limited.

The Bidder will initially commit to invest a minimum level of up to €220 million including equity funding and working capital requirements. This is made up of €175 million from Tetrad Corporation and the rest from Granahan McCourt (Dublin) Ireland Ltd.

Granahan McCourt Dublin (Ireland) Limited and Tetrad Corporation are the investors responsible for providing all of the equity, working capital, performance related security and project deliverables.