FUNDING PROBLEM FOR ROUNDSTONE MARINA TAKES ANOTHER TWIST

Date Published: 05-Feb-2008

The long-running problem over who will fund a Marina at Roundstone has taken another twist.Government ministers have decided that the project will now come under the responsibility of the Department of Rural, Community and Gaeltacht Affairs.Deputy Fahey is meeting with Finance Minister Brian Cowen this week to secure Government funding which will pay for 55 per cent of the project. Private contributions from 40 shareholders will fund the remaining 45 per cent as required under EU law, according to Deputy Fahey.It comes as planning permission previously granted for the marina expires in April. Roundstone Marina Ltd is now looking for a 12-month extension of the planning permission. Deputy Fahey says work must begin on the marina this summer.