Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

On Deputy Boyd Barrett's point, I was not referring to fracking. Much consideration is required before making a decision on fracking.

On Coillte, we are not proposing to sell anything except harvesting rights, which essentially means timber. There is a valuation of Coillte's commercial forests in terms of the standing timber and its future value. The valuation is the combination of a number of separate valuation processes, one of which was engaged in by Coillte itself. I believe there were two valuations by NewERA.

At my request, Deloitte looked at this issue on the basis of Coillte's accounts. A lot of work has been done on this issue. As a Government, we need to weigh up the potential value of that sale versus how it might affect other elements of the timber industry, how we can ensure this does not happen and the cost implications for an overall sale. All of these issues are being considered. When I bring a recommendation on the basis of all of these variables to the Government, an informed and cautious decision on the future of the harvesting rights of the commercial timber which Coillte owns will be made.

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