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    Signature(s)

    Amount
    € 64,500,000
    Countries
    Sector(s)
    Ireland : € 64,500,000
    Transport : € 64,500,000
    Signature date(s)
    11/06/2004 : € 64,500,000

    Summary sheet

    Release date
    27 November 2002
    Status
    Reference
    Signed | 11/06/2004
    20010596
    Project name
    Promoter - financial intermediary
    M8 Fermoy Toll Motorway
    The National Roads Authority (NRA) through the Local Government and the Regions (Cork County Council).
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Up to 50% of the project cost or of the total senior debt
    Project cost will only be known when the preferred bidder has been appointed
    Location
    Sector(s)
    Description
    Objectives

    The project comprises the design, construction, operation and financing over a concession period of 30 years of approximately 17.5 km of dual two-lane motorway including associated interchanges, a 450 m motorway viaduct, two major river bridges, local road realignments and the tolling facilities associated with the project.

    The motorway will reduce the journey times of traffic travelling between Cork and Dublin. In particular it will bypass the communities of Fermoy and Rathcormac, reducing traffic congestion within the towns. Expected immediate benefits are: i) improvement of passenger and freight traffic flows, ii) reductions in travel time, and iii) reductions in vehicle operating costs. At the same time, traffic safety is expected to increase.

    Environmental aspects
    Procurement

    The alignment and preliminary designs have been the subject of an Environmental Impact Assessment and public discussion. The conclusions of this process are with the An Board Pleanala and a decision is awaited. The winning concessionaire will be responsible for designing, constructing and operating the project in accordance with the terms and conditions of this approval.

    The project was advertised in the Official Journal of the EU in July 2001 in accordance with Directive 93/37/CEE. NRA received pre-qualification submissions from ten consortia, four of which were subsequently invited to submit preliminary proposals by December 2002. The NRA expects to choose a preferred bidder in July 2003.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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