Anthony Lawlor (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source

72. To ask the Minister for Transport, Tourism and Sport if he will have access to funding from the Strategic Infrastructures Fund for projects which will have a positive cost benefit to the local economy; and if he will make a statement on the matter. [30939/13]

Leo Varadkar (Dublin West, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The Minister for Finance recently announced the drafting of a Bill to, inter alia, establish the Ireland Strategic Infrastructures Fund (ISIF). Once established the ISIF will invest in the Irish economy on commercial terms in support of economic activity and employment.  It is difficult to create projects under the aegis of the Department of Transport, Tourism and Sport that are commercial. That is, projects that produce a revenue stream that can be used to repay the ESIF. To date, the only mechanism we have used are Public Private Partnerships (PPPs). This mechanism has been used for major new road projects. It can also be used for large scale public transport projects as well. Unfortunately doing so for projects that have a cost of less that €100 million (which would cover the vast majority of envisaged tourism and sports projects) is uneconomic and direct exchequer investment is preferred for those projects.

In line with this overall approach three road projects have been included in the Government's Infrastructure Stimulus package announced in July 2012 - the N17/N18 Gort to Tuam PPP together with the N25 New Ross Bypass and the N11 Gorey to Enniscorthy PPP.  In addition under the investment plan announced recently by the Government an additional €50million has been made available to fund maintenance and repair work on regional and local roads.

The general approach I have taken is to keep under review projects at various stages of planning and design which have been evaluated and appraised with a view to having a pipeline of suitable "shovel ready" projects ready to avail of any funding opportunities that may arise.  I have also put considerable emphasis on the need to direct resources to the maintenance and repair of existing infrastructure.  Should further funding become available in the future my aim will be to develop a balanced package of measures covering infrastructure maintenance, safety schemes and targeted development projects across the transport sector to ensure that available resources are maximised to generate economic activity and create jobs in Ireland.