Update on the Gort-Tuam Motorway

May 31st, 2012 - Pat Breen

Chairman of the Oireachtas Committee on Foreign Affairs and Trade Pat Breen T.D. has welcomed the news that the European Investment Bank has provided loan approval in principle of €170 million euro for the Gort to Tuam phase of the Atlantic Corridor.

“Work was due to begin in early 2010 on the €530 million Gort-Tuam route, but BAM Balfour Beatty, the private partner withdrew from the project because of difficulties raising the necessary finance.”

“This Section of road is the final piece of the infrastructural network required in this Region following the completion of the MI8 Motorway from Shannon to Gort and the Shannon Tunnel, to allow for easier access to Shannon Airport. The news that funding for this project will be available is welcome as it will open up parts of North Galway and will significantly reduce journey times for people travelling from the North West to the Airport”.

“It could also result in further inward investment and jobs for this Region. Over the past 12 months this Government has worked hard to repair Ireland’s International Credibility and inward investment has started to flow back into the Country. Foreign Direct Investments have a very important role in reviving our Economy and creating much needed jobs, having a first class road and rail infrastructure in this Region by completing the Gort to Tuam phase of the Atlantic Corridor will allow us to secure a greater share of those FDI investments here in this Region.”

“Now that the EIB has provided loan approval for €170 million, the remainder of the funding will be sought from Private Investors and the Minister for Transport Leo Varadkar T.D. is currently investigating the possibilities of securing same.”