Road projects for the next 5 years when economy picks up.

mysterious wrote: »

But onto topic

• Newlands cross
• Castleisland bypass (starting0
• Adare Bypass
• Galway outer bypass
• N17/N18 motorway
• NCW N21 bypass
• Tralee outer ring
• Cork NRR.
• Naas M7upgrade to WD3 standard to Newbridge.
• Macroom bypass
• Birr bypass
• M20 Limerick to Cork route

These are the main key routes that need attention over the next few years.

BluntGuy wrote: »

Well they didn't extend the N17/N18 tender deadline again, and at least there was interest in the project (as you can see by tender requests for additional documents etc. - http://www.e-tenders.gov.ie/Search/Show/Search_View.aspx?id=JAN113131 )

If we see any other schemes up on e-tenders in the next two or three months, then it's a good sign.

Doesn't mean anything is confirmed, far from, but it's at least a sign that all is not lost for these PPP schemes.

Notification:

An Bord Pleanala issued its approval to the M17 Galway (Rathmorrisey) to Tuam Motorway Scheme 2007 on 6th March 2009. That approval contained a number of conditions including the deletion of the Rathmorrisey motorway service area from the project.

As a result of this approval condition, a number of amendments to the Information Memorandum and Prequalification Document for the N17/ N18 Gort to Tuam PPP Scheme are necessary, including to the assessment criteria where experience in the operation of public road service areas is no longer required. As these amendments occur throughout the document, the original document is fully withdrawn and is replaced by the revised Information Memorandum and Prequalification Document attached. Please note that other amendments have also been incorporated into the revised document.

As a result of these changes the return date of Pre-qualification Submissions has been extended to Tuesday 21st April at 12.00 (noon).

IRISH PENSIONS funds have indicated to the Government they would be prepared to invest up to €6 billion over the next three years in a range of State infrastructure projects as part of a plan that could secure about 70,000 jobs in the construction industry here, The Irish Times has learned.

Under a detailed plan devised by the Construction Industry Council (CIC) and submitted to Minister for Finance Brian Lenihan in the run-up to the supplementary Budget, Irish pension funds would invest in a State infrastructure bond that would provide much-needed finance for the building of roads, railways, schools, hospitals and utility projects.

The funds would receive a return on their money over a period of possibly 20-25 years at a rate superior to that paid on Government gilts – possibly 2.5 percentage points above the rates offered for gilts.

Such a move would have two major benefits for the Government. It would provide cash for infrastructure projects that might otherwise be shelved due to the recession and it would sit “off balance sheet” and not count towards the crucial debt-to-GDP ratio, which has to be agreed with Brussels.

It is understood that the bond would not require the approval of the European Commission.

It would also provide a major stimulus to the construction industry here, securing about 70,000 jobs at a time when the industry is in disarray.

In a detailed report sent to Government in advance of the supplementary Budget, the construction council warned that employment in the industry will decline to 126,000 by the end of 2011 from 302,000 at the end of last year unless the sector receives a substantial stimulus.

The Department of Finance confirmed last night that it was in detailed talks with representatives of the pension fund industry here, including the Irish Association of Investment Managers (IAIM) and the Irish Association of Pension Funds.

“The department has met with the pension fund industry and further meetings are scheduled,” a spokesman said. “The intention is to access funds that will support jobs in projects that offer value for money for the State.”

He said a number of issues remain to be resolved, including the rate of return that would be paid to the pension funds.

Frank O’Dwyer, head of IAIM, said the industry supports the idea of an infrastructure bond. “The institutional investment community here believes this is a suitable vehicle for long-term investment providing long maturities with good returns.”

IAIM’s membership comprises 13 asset management firms, who between them handle about €200 billion of clients’ money.

About €90 billion of that is managed on behalf of Irish clients, including large pension funds, pooled funds and individuals.

Only about 3.5 per cent of this money is invested in Irish fixed-income products and the industry here is keen to increase this figure as it switches away from investing in shares and property. This would allow the Irish fund managers to allocate more money to the Irish economy.

Talks have also taken place with pension consultants who advise the trustees of pension funds on how they should spend their money.

The innovative plan was devised by the CIC, an umbrella body that represents architects, engineers, chartered surveyors and construction firms. The project is being led by Tom Costello, managing director of John Sisk Son Ireland, one of the country’s biggest contractors.

The CIC submitted a detailed 70-page report – jointly compiled by Goodbody Corporate Finance and DKM Economic Consultants – to the Department of Finance in March.

The report, which has been seen by The Irish Times , predicts that turnover in the construction sector will drop by 38 per cent this year to €17.6 billion and to €10.2 billion in 2010 without any stimulus.

It argues that if the Government does nothing, 70,000 construction jobs will be lost, which would result in the State having to pick up a social welfare tab of €1.3 billion. The lost tax revenue would be €1.3 billion, it says.

“The CIC believes that it is essential to provide a stimulus now so that design, planning permission and tenders can be advanced in 2009 in order to ensure projects reach construction in 2010,” the CIC says.