Oireachtas Joint and Select Committees

Tuesday, 3 July 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Role and Operation of National Development Finance Agency: Discussion

1:30 pm

Mr. Gerard Cahillane:

As I stated in my submission to the committee on 20 June, a clause in our contract requires the PPP company to confirm that the subcontractor has been paid on a monthly basis. As far as we are concerned, and as my colleague stated, the subcontractor in this case - Sammon - has been paid 98% of the moneys owed to it. The 2% that it has not been paid relates to the remaining works and some retention. The State has overseen the payment from the funders and the equity people to the subcontractor.