Michael McNamara (Clare, Independent)
Link to this: Individually | In context | Oireachtas source

Both the Minister and the Minister of State met Coillte last week.

I presume its representatives outlined the structure of this agreement and the Gresham House ownership structures. It is my understanding that Coillte cannot draw down state aid because the State owns the land. The premia cannot be paid because they would be paid over to the State. With regard to Gresham House, I read that the lands will be owned by the investors in partnership with Gresham House, which I presume will allow the premia to be drawn down. That is part of the attraction. However, if ISIF has invested €25 million in this fund, surely it will own part of the land. How does that not result in the same difficulties with regard to state aid that Coillte faces?