State sets out plans for €1bn infrastructure projects
The National Development Finance Agency (NDFA), is to kickstart the procurement process on several major Irish infrastructure projects with a combined value of almost €1bn.
The NDFA is part of the National Treasury Management Agency (NTMA), which manages the assets and liabilities of the State.
The projects will be delivered via Public Private Partnerships. NDFA is looking to attract interest from both domestic and international investors for the projects.
The projects include the delivery of 1,500 social housing units, a €200m investment in third level institutions and a two separate investments worth €150m each in courthouses and justice projects and in community nursing units and healthcare.
NDFA Director Brian Murphy said the organisation will begin the pre-procurement "in the course of 2016".
“Ireland is now firmly back on the radar of major international investors and their huge appetite for Irish infrastructure projects augurs well for our pipeline," he said.
"This is good news for Irish taxpayers as it will make it easier to deliver projects that will bring real benefits to Ireland and to fund these projects on very attractive terms...PPPs have delivered highest quality, value for money infrastructure for Irish taxpayer for more than a decade."
However, he added that it will be necessary to monitor costs stringently as potential capacity constraints arise in the construction industry.
“These potential constraints are another positive sign of Ireland’s strong economic recovery but we are confident we can address them effectively,” he said.