State loses millions due to cancelled projects

The State has had to write off losses worth tens of million of euro as a result of the collapse or postponement of a number of public-private partnerships (PPP).

The report outlines how when three planned bundles of third-level education PPP projects were cancelled last November, €10.1m had already been spent by the National Development Finance Agency (NDFA) on enabling works and consultation fees.

Among the locations affected by the decision were Cork Institute of Technology, Limerick IT and IT Tallaght, while €2.9m had already been spent on enabling costs at Waterford IT alone.