Engineers call for pension fund to be invested in road building projects

The Institution of Engineers of Ireland (IEI) has called on the Government to invest money from the National Pension Fund into major road building projects throughout the State.

They want to see major investment next year to accelerate development of key infrastructure in order that Ireland remains an attractive location for overseas investors.

Where public finances are not available, the IEI recommends increased borrowing, charges, development levies and Public Private Partnerships to fund implementation of the National Development Plan.

The IEI also says that while Public Private Partnerships have the potential to generate further funds for infrastructural development, the current process was far too complex and expensive, and should be made more user friendly by, for instance, developing a standard form of contract which would reduce the very substantial legal costs involved.