Minister allocates extra €209m for roads programme

Minister for Finance Charlie McCreevy has allocated an additional €209m to the National Development Plan's National Road Programme.

He said this means that next year the Exchequer will be investing €1.25bn in the roads programme.

He said the Government is also anxious to explore more radical and innovative approaches to the funding and delivery of the Roads Programme, including the scope for greater private sector investment and potential ways of remunerating this investment.

McCreevy said he had brought forward legislation to establish the National Development Finance Agency to help ensure that public infrastructure projects are financed in a cost-effective manner.

The Minister said that Public Private Partnerships are making a significant contribution to delivering priority infrastructure projects under the NDP.

He said that a milestone in their development would be passed in the near future when the first motorway PPP contract is signed.