Government to decide on funding for Cork events centre within weeks, Tánaiste says

Micheál Martin said costs for the project 'have gone up again significantly' 

Micheál Martin said the requested detailed design stage of the project was now complete and was a signal the project could move forward.

Tánaiste Micheál Martin has said Cabinet is to take a decision on funding for the long-awaited Cork events centre within six weeks.

Speaking to reporters in Chicago at the close of his four-day visit, the Cork South-Central TD said it was significant it had finally reached its “detailed design” stage and now the Government had to consider the request for further funding for the inflation-hit project.

“It is a long time coming,” he said. “Basically, this Government is three years in office. About a year and a half in, we allocated additional funding to the event centre when they came back looking for more, up to €57m.” 

Late last month, sources told the Irish Examiner the vital infrastructural project had now reached “make or break” time and its future still hung in the balance.

However, Mr Martin said the detailed design stage of the project was now complete and was a signal the project could move forward.

“That [extra funding] was on the proviso and understanding that a detailed design would be done by the companies involved. So since then, they’ve been doing that. The detailed design is now completed and was sent to the city council, who are the lead agency on this.

Mr Martin said the city council was asked to do a report on the due diligence of the proposed project and send it to Government, which has now happened.

“There was an understanding of that last decision that inflation would be taken into account. The costs have gone up again significantly, there has to be due diligence.” 

He said the city council was asked to do a report on the due diligence and send it to Government, which has now happened.

“Government will be considering this shortly, and we’ll be making a decision on it. It’s a very significant investment. It’s an investment, very substantial State investment, basically trying to generate greater economic activity as a result of its establishment.

“And that’s the case, the cost-benefit analysis, that the State has to look at and it would be of huge significance to other sectors of the economy. If you have a major event centre, that would be attracting very significant conferences, concerts and events.”

When asked when a decision would be made by Cabinet, he added: “I’d like to think six weeks.”

Mr Martin said it was something he would very much like to see in Cork but added “we have to be certain before commit further that this will happen”.

He noted costs for all infrastructure projects had increased in recent years and said this was no different.