'Lots of money' available for investment in roads
PRIVATE INVESTORS READY TO PUT UP BYPASS MONEY SAYS NRA
Wednesday February 03 2010
THERE is no shortage of private investors ready to put up money for the Enniscorthy and New Ross by-passes, according to the Wexford county roads czar Don Curtin.
The National Roads Authority has announced confirmed that more than €11 million is available for the two projects this year. But much of the money will thereafter will come from the private sector under the terms of a 'PPP' arrangement – the letters stand for public private partnership.
'There is lots of money out there for investment,' said Don Curtin of the NRA, suggesting that the returns over 20 years should be better than on Government bonds. With the help of private cash, the NRA hopes that work will begin on the two roads some time in 2011
The timetable has not been hit by cuts in Government spending, though the New Ross project has been stalled by a High Court challenge, due to be heard later this month. In the meantime, a €21 million programme of spending by the NRA in County Wexford during the year ahead has been announced. The headline figures include: €4.8 million for the Arklow/Gorey road by-passing Gorey. Some of the money needed to pay landowners affected by the road, which has been open for more than two years;
€7.65 million for the Gorey to Enniscorthy road by-passing Enniscorthy, to be spent on archaeological and ground surveys along the chosen route prior to putting the work out to contract;
€4.1 million for the New Ross by-pass, including archaeology and the price of houses that have to be acquired;
€1 million for advance work on the extension of the N11 from Oylegate southwards, a project that is still some years off.
Money will also be spent on safety work he N24 at Ashfield/Jones Cross (€280,000), on maintenance of bridges along the N11 route(€800,000); on upgrading the N30 Enniscorthy to New Ross road (€568,000), on assorted 'pavement and minor works' (€1,259,000) and on improving the safety of the N80 at Ballycarney (€365,000).
- David MEDCALF