One of Letterkenny’s most eagerly awaited school construction projects is to begin in the coming weeks – after the Government got a loan!
The Minister for Education and Skills warmly welcomed the start of construction of eight schools which are being delivered under the Public Private Partnership (PPP) model.
One of these schools is the new Colasite Ailigh building on the outskirts of the town.
Construction on the 350 pupil school is to begin shortly and is expected to be complete before the end of 2014.
A loan of €50 million has been secured through the European Investment Bank (EIB) which has meant these new schools can now proceed to construction. The total value of the construction costs is estimated to be approximately €100 million.
The move has been welcomed by local Labour Senator Jimmy Harte who said the move now guarantees a start-date for Colaiste Ailigh, which is currently located on the High Road.
These are the first public sector projects to be funded under the PPP model since June 2010.
They are part of the five year school building programme already announced by Minister Ruairí Quinn T.D. earlier this year.
Minister Quinn said, “This is very good news for the communities in counties stretching from Donegal to Waterford who have been waiting for their school building projects to be given the green light.”
“I am particularly pleased that the EIB has again decided to support the Department’s schools capital investment programme with a loan of €50 million which will assist in funding this investment. It is a further signal of the bank’s renewed confidence in the Irish State and our recovery programme.”
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