THE DEPARTMENT OF Public Expenditure and Reform has announced the details of projects set for a windfall from the proceeds of state assets sales.
€200 million from the sale of Bord Gais Energy and some ESB assets will be spread around road schemes, social housing and a range of tourism related projects.
Some of the main winners from the process include:
Cork’s Páirc Uí Chaoimh will get €30 million towards the €70 million cost of redeveloping the stadium as a centre of excellence. A full size weather training facility and local Marina Park will be installed as part of the process.
€50 million will be given to the Department of the Environment, Community and Local Government for social housing.
This will be broken down into €20 million for finishing off 800 vacant units, €10 million on capital projects for homelessness, and €20 million for the construction of 130 units in the most deprived local authorities.
€20 million has been set aside for construction, advisory and other contractors undertaking remediation work to homes affected by pyrite. The funds will be channelled through the Pyrite Remediation Scheme.
Roads & cyclepaths
Road surface improvements are in line for a €50 million boost, with the N22 Macroom pavement strengthening and the M11 Shankill-Bray South schemes set for improvement.
€10 million has also been earmarked for cycling greenways, including the Dublin-Athlone-Galway route.
In addition to this €22 million has been set aside for 1916 commemoration projects, with €5 million for the Special Olympics and €2 million for the development of Lough Derg as a key tourism destination.
It is the fourth stimulus announcement in the lifetime of the Government, with previous packages in June 2012, July 2013 and in the Budget announcement for 2014.