NRA struggling for finance as capital markets fear giving loans

03 May 2011

Concerns relating to Ireland's financial position are creating difficulties in PPP negotiations

Concerns in international markets about Ireland's financial position is making it difficult for the National Roads Authority (NRA) to secure private finance for major road and rail infrastructure projects, including the multibillion-euro Metro North. This has emerged in a briefing document prepared last month for Minister for Transport Leo Varadkar. "The Gort to Tuam PPP is at the stage of negotiations with the preferred bidder but, due to concern in the capital markets regarding Ireland's overall financial situation, the NRA has so far been unable to finalise negotiations," the document stated. The M17/M18 Gort-Tuam and the N11 Arklow-Rathnew/N7 Newlands Cross bypasses had progressed to tender stage.

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