State to use €600m Bord Gáis proceeds for jobs

The Government is set to re-invest €600m from the Bord Gáis Energy sale into projects which are capable of creating jobs and generating a commercial return.

Government sources last night said SMEs, public-private partnership projects, and infrastructural improvements will all benefit when the sale is completed early next year.

Yesterday, Energy Minister Pat Rabbitte denied that Bord Gáis was sold at bargain basement price — the €1.125bn agreed was below the anticipated €1.4bn when the sell-off was temporarily abandoned three weeks ago.