Release date: 27 November 2002
Promoter – Financial Intermediary
The National Roads Authority (NRA) through the Local Government and the Regions (Cork County Council).Location
Description
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.
Objectives
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.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to 50% of the project cost or of the total senior debt
Total cost (Approximate amount)
Project cost will only be known when the preferred bidder has been appointed
Environmental aspects
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.
Procurement
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.
Status
Signed - 11/06/2004
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).