Results 7,621-7,640 of 26,208 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: Am I correct in understanding that the cost of the network will be €1.1 billion? The poles will cost €900 million over a 25-year period. There is a contingency fund of €500 million. The total cost of the scheme over 25 years is anticipated to be €5 billion.
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: The overall cost is €5 billion. Of that €5 billion, the State is contracted to pay up to €2.7 billion. That is the maximum.
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: Okay. The maximum that will be claimed is, I presume, 92% of the €5 billion. Am I correct?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: What is the total amount available? I know the cap is €2.6 billion, comprising €2.1 billion and €500 million in contingencies. What total can the State contribute to the €2.5 billion?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: The figure of €2.7 billion, multiplied by 0.92, is €2.5 billion. That is where the figure is coming from. That is the maximum.
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: NBI will incur costs of between €2 billion and €2.5 billion. Is the purpose of the subsidy being provided to NBI to cover the build-out cost €2.5 billion? Is that the logic behind it?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: The State's investment is for the build-out and not the operation of the scheme.
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: So the €2.5 billion on top, to bring it up to €5 billion, is covered by NBI.
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: Under state aid rules, NBI can only get 92% of the build out costs which is 92% of €2.6 billion, or roughly €2.5 billion.
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: On encroachment, what value has been assigned to the subsidies paid to NBI?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: If any of that €100 million is claimed or paid to NBI, when would it happen?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: NBI may claim subsidies from the State but what mechanism determines the subsidies that can be drawn down? What level of subsidies have been received since the start of January 2020?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: Taking this to the logical conclusion, the State is providing funding of 92% of the cost of the roll-out. That goes to NBI to roll out a network that would not have been rolled out to rural areas without State support. Mr. Hendrick mentioned the next matter in his briefing note. Under project costs, it states: 6.3 Granahan McCourt incurred significant costs during the bid stage, in...
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: Will the witnesses deal with this in the context of the requirement for the €100 million that appears to have come in virtually on the same day, 9 January? It was €2 million of equity and €98 million of unsecured loans. We know they are at 12% interest. Will Mr. Hendrick deal with that point?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: Is the figure correct?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: Was that discussed with the Department and always the understanding?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: Was there any question the initial cost could be regarded as equity in NBI as distinct from being repaid to Granahan McCourt?
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: That was always the understanding with the Department.
- Joint Oireachtas Committee on Transport, Tourism and Sport: National Broadband Plan Update: National Broadband Ireland (27 Jan 2022)
Kieran O'Donnell: Under the contract, could any investor funds be used for this purpose?