Bord na Móna to borrow €300m

BORD NA MÓNA plans to borrow up to €300 million over the next five years to fund its expansion into hydrogen-based fuels, waste management and environmental protection.

Government statute prevents the company from borrowing over €127m, but chief executive John Hourican says going public to raise funds is not a realistic option. It is "too small" to merit consideration for a stock market flotation, he said. "We have a long way to go before we have an issue with privatisation," he said.

On the other hand if the Government thought differently, "we would be happy to react to that situation if it ever arises," he said.