Govt announces semi-state assets-management unit

The Government has announced the establishment of a new unit to manage semi-state assets and use funds to create jobs.

The 'NewERA' unit will be part of the National Treasury Management Agency.

The Government also says it is working towards the establishment of a Strategic Investment Bank.

NewERA will manage the State's holdings in companies such as the ESB, Bord na Móna, Coillte and Bord Gáis.

It will look at the capital investments of the companies to identify how they can work together on investments, and at the disposal of state assets, such as the planned sale of a minority stake in the ESB.