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[Media]Infrastructure project delayed over sovereign debt worries

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  • 20-02-2011 8:25pm
    #1
    jd
    Registered Users Posts: 5,697 ✭✭✭


    There is a report in the Sunday Business Post that the Gort-Tuam Motorway PPP has been delayed by concerns over the sovereign debt situation. If this is the case, it has repercussions for the Metro Project, N11 Rathnew-Arklow/Newlands Cross and all the other PPP projects coming down the line. Article will be available online tomorrow.


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    #2
    jd
    Registered Users Posts: 5,697 ✭✭✭jd


    article

    148991.jpg


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    #3
    DWCommuter
    Closed Accounts Posts: 3,032 ✭✭✭DWCommuter


    A monkey could tell you this. The PPP model is now undermined by our difficulties meeting current debt. I have already alluded to the MN difficulty, but apparently I'm wrong. We'll see......

    Its all too late. The good times have gone. We must deal with it. No Government will commit to any of it. In fact it was all too dependent on the PPP model anyway. Had we not given away the wealth we had in tax cuts and Public service largesse then we could have had more. Ireland really thought the bank funded private sector would deliver us to the promised land. All part of the illusion that was created.


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    #4
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    I said a long time ago.....2009 IIRC...that the PPP model was basically banjaxed. I am honoured that the Business Post seems to have finally caught up with my thinking some two years later. I don't think any PPP projects of any sort have been packaged out in the past two years other than a tranche of schools in a Schools Bundle.

    The entire major roads, rail, cancer centre strategy and secondary schools capital plan is moribund with the PPP freeze.


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    #5
    Tech3
    Closed Accounts Posts: 3,010 ✭✭✭Tech3


    DWCommuter wrote: »
    A monkey could tell you this. The PPP model is now undermined by our difficulties meeting current debt. I have already alluded to the MN difficulty, but apparently I'm wrong. We'll see......

    Yes the dogs on the street know this and the NRA have confirmed what we have been thinking for the last 2 years. If a much smaller scheme like this cannot get funding then there is no hope for MN.


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    #6
    dowlingm
    Registered Users Posts: 5,328 ✭✭✭dowlingm


    Who was the Balfour Beatty financier?


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    #7
    DWCommuter
    Closed Accounts Posts: 3,032 ✭✭✭DWCommuter


    dowlingm wrote: »
    Who was the Balfour Beatty financier?

    Difficult to tell, but its not an Irish bank leading it anyway. AIB were part of the Direct Route proposal.

    Balfour Beatty Capital look after it so I'm assuming its foreign banks and we all know what they think of Ireland at the moment.

    I'd be interested in knowing the lender as well.


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