Concern as Coillte debt jumps 60%

CONCERN has been raised about levels of debt at the state forestry company Coillte after its borrowings jumped 60% this year to €1/4 billion.

Legislation has been introduced to quadruple the amount of long-term debt Coillte can take on. This will allow it seek €400 million in this type loan.

Up to now the commercially-run state-company has been prevented from borrowing more than €101m on a long-term basis.