Construction BUSINESS

Fingal County Council Prepares to Roll Out €588 Million Capital Programme Over Next Three Years

 Breaking News
  • Opening of Stephenstown Link Road in Balbriggan The Stephenstown Link Road, constructed by Jons Civil Engineering, has been officially opened with Mayor of Fingal Cllr Anthony Lavin cutting the ribbon on this key piece of infrastructure development within Balbriggan. The new Link Road in Stephenstown Industrial Park runs from the existing roundabout on the Stephenstown Road to a new roundabout on Clonard Street Road, [...]...
  • The UK National Construction Expo – The Arena MK, Milton Keynes – 1st May 2019 The UK National Construction Expo is being held at the Arena MK, Milton Keynes in England on Wednesday, 1st May 2019. Although British construction activity overall has slowed, chiefly due to businesses continuing to postpone major building projects due to Brexit uncertainty, which is impacting the commercial construction and civil engineering sectors, house building remains buoyant. Of [...]...
  • Key Advisor Line-up For Waterford North Quays and Michael Street Development Projects Falcon Real Estate Development Ireland, the company that is backing the Waterford North Quays and Michael Street development projects, has appointed its key advisors including the leasing agency and design team for the project. Cushman & Wakefield, a leading global real estate service firm, has been appointed as the leasing agency for the entire North Quays [...]...
  • Ballymun’s Potential as a European Leader in Housing Planning and housing experts have examined Ballymun’s potential as a European leader for innovative housing development, as part of the recent Vienna Model of Housing exhibition in Dublin. Previous planning within the Ballymun area indicates a lack of consideration for community development, with no main street or community focal point currently present. Dublin City Council’s local [...]...
  • 200 Construction Jobs at Johnson & Johnson Vision Care Limerick Facility Approximately 200 workers are expected to be employed in the construction phase of Johnson & Johnson Vision Care’s planned €100 million expansion of its manufacturing operations at its site in the National Technology Park, Plassey, Limerick. The project is supported by the Irish Government through IDA Ireland. IDA Ireland CEO Martin Shanahan said: “This is a significant announcement. Already [...]...

Fingal County Council Prepares to Roll Out €588 Million Capital Programme Over Next Three Years

Fingal County Council Prepares to Roll Out €588 Million Capital Programme Over Next Three Years
October 15
09:15 2018

Fingal County Council has approved the drawdown of an €8 million loan from the European Investment Bank (EIB) as it prepares to roll out its ambitious €588 million Capital Programme over the next three years. Last December. Fingal County Council signed an historic agreement with the EIB to secure a €70 million loan facility to support capital projects over a five-year period.

The finance will be used to accelerate the Council’s LED street lighting replacement programme and to invest significantly in heritage properties such as Swords Castle and Bremore Castle and industrial estates to provide further employment opportunities.

Some 212 projects have been identified in the programme, with an estimated €187.52 million spend next year alone. In 2020, capital expenditure will be in the region of €208 million and €192 million in 2021. Investment in housing will account for almost half of the expenditure at €297 million over the course of the three years. Projects under the Planning and Strategic Infrastructure Department will account for €150 million, followed by Libraries/Community/Culture at €60.8 million and Economic/Enterprise and Tourism at €42 million.

Fingal County Council Chief Executive Paul Reid said: “The process is kicking off in terms of the initial drawdown of the EIB loans. We will be using the finance in a tactical way to address that projects that we may not have otherwise got to. We are targeting our LED street lighting replacement scheme, which originally was a seven-year plan. This money will enable us complete the project in less than three years, with a significant pay back for the council. It will also provide for investment in heritage properties and industrial estates.”

He gave a commitment to bring forward a report early in 2019 which will provide a more detailed look at projects to be funded under the EIB loan facility over the coming years.

About Author



Related Articles

Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here