Public capital investment will increase by a further 11% in 2020, up to 4% of national income compared to the EU average of 2.9%
The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe TD, has today (Tuesday) launched an updated Investment Projects and Programmes Tracker , Phase 2 of the MyProjectIreland interactive map and published a report containing high-level information on 50 of the largest projects included in Project Ireland 2040; Prospects – Ireland’s Pipeline of Major Infrastructure Projects .
This suite of material again underlines the steady progress being made in the implementation of Project Ireland 2040, which sets out a clear long-term strategy of capital development for Ireland backed by investment of €116 billion over the 10 years to 2027.
The Investment Projects and Programmes Tracker, which focuses on projects with estimated costs in excess of €20million was first published in 2017 and updated the following year. This latest update, being launched today, provides comprehensive data on the progress of all major investments that make up Project Ireland 2040 along with improved functionality for ease of use by citizens looking to find out about the projects being progressed in their locality.
Of the 196 projects captured within the Tracker, 59 are at construction stage. Examples include the Oweninny Wind Farm Project, Mayo; the Cork Lower Harbour Main Drainage Project; the N56 Dungloe to Glenties Road, Donegal; and the National Children’s Hospital.
A further 22 projects, costed at over €20m are set to commence construction in 2020, including Beaumont Hospital Radiation Oncology Unit; the Nangor Road, Clondalkin Housing Project; the Cork City Water Supply Scheme Upgrade; and the Coonagh to Knockalisheen Road, Limerick.
21 projects are set to complete construction in 2020, including the Clonakilty Flood Relief Scheme and Our Lady of Lourdes Hospital Drogheda.
Progress in 2020 on the delivery of Project Ireland 2040 builds on the strong foundations of projects completed and commenced in 2019. Ten projects over €20m were completed in 2019, including M11 Gorey to Enniscorthy Motorway; National Indoor Arena Phase 2; and Skibbereen Flood Relief Scheme. Twenty three projects over €20m commenced in 2019, including N22 Ballyvourney to Macroom; Galway Emergency Department and Ward Block; and Dominick Street (East Side) Regeneration Development, Dublin.
Project Ireland 2040 is not just about mega-projects. It also supports the development of important local projects in every region throughout country. Phase 2 of the MyProjectIreland interactive map includes all projects supported to date under the Government’s Urban and Rural Regeneration and Development Funds.
Prospects - Ireland’s Pipeline of Major Infrastructure Projects is a new report which provides further visibility on the sequencing of a sample of Ireland’s priority infrastructure projects over the coming years, thereby facilitating Irish and overseas construction firms to plan for commercial opportunities on the horizon. The report contains high level information on 50 of the largest projects included in Project Ireland 2040 and signposts to other sources for more detailed information.
Minister Donohoe said ‘As clearly demonstrated by today’s launch, significant headway is being made in the delivery of Project Ireland 2040. Hosted on gov.ie/2040, the Tracker and Map provide citizens with in-depth information on the progress underway in their town, city, county, province or region. Additionally, and as our economy continues to grow Prospects provides both domestic and international construction firms the strong evidence base they need to plan effectively for the substantial opportunities available to them for investment.’
“The Government’s stewardship of the economy has allowed for strong economic growth, record employment, and strong incomes growth. For two years in a row we have taken in more revenue than we are spending. Running a surplus like this makes sense as it creates a buffer and makes us more secure for the years to come. We have done all of this while increasing our spending on roads, hospitals, housing and the infrastructure our people need to thrive and prosper; increasing our public capital investment by 23% in 2019 with a further increase of 11% planned for 2020. This will bring our investment in this area up to 4% of national income compared to the EU average of 2.9%. The material that has been launched and updated here today brings that information closer to the public so that they can see first-hand the work that is underway in their local areas, the aim of which is to continue to improve their standards of living and everyday lives.”
Notes for Editors:
1. Investment Projects and Programmes Tracker
2. MyProjectIreland map viewer
Phase 2 has now been prepared, again in collaboration with Ordnance Survey Ireland. The principal changes include:
3. Prospects – A Snapshot of Ireland’s Major Project Pipeline