Batt O'Keeffe (Cork North West, Fianna Fail)

The first bundle of post-primary schools announced by my Department in November 2005 comprises Coláiste na Síonna, Banagher; Gallen Community School, Ferbane; Scoil Chríost Rí, Portlaoise and St. Mary's CBS, Portlaoise. A preferred tenderer, Macquarie Partnership for Ireland, was appointed for this bundle in October 2007. Full planning permission for all four schools was secured by Macquarie in August 2008 and I am now pleased to inform the Deputy that the contract for the provision of these four schools was signed by the National Development Finance Agency on 6 March 2009. A total of 2,700 pupil places will be provided when these schools are completed. The contractor, Pierse Group, moved on to the three sites immediately and construction work commenced on 9 March. It is expected that the schools will become operational in September 2010.

During the finalisation of contract details for this bundle, the financial landscape has changed considerably and this affected the timeframe for closure of the bundle. Specifically, the original bank proposed by the consortia withdrew from the market in the third quarter of 2008 and a replacement bank had to be found.

Regarding the interest rates for this project, I have sought the advice of the National Development Finance Agency and have been advised that this information is considered commercially sensitive and cannot therefore be provided. While I am not in a position to provide details on the terms and conditions of specific bundles, I will provide the Deputy with a copy of the project agreement template which outlines the terms and conditions that apply to all PPP contracts.

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