Business Insider article The government is facing a cash crunch over its debt burden as it seeks to raise money to pay for the construction of a major new airport in Dublin.
A new airport on the outskirts of the city will be built by private sector company JONES Construction with the help of private funds.
The government is expected to announce the financial results of the operation on Tuesday, as part of the Budget.
JONES Construction, based in Dublin, is responsible for nearly half of the cost of the airport.
It has a 40-year track record and has won contracts for the New South Wales and Northern Territory airports.
In a statement, the government said it was committed to supporting the construction process, but added that it was working with the private sector to ensure that the deal would be approved on time and in the money.
The government said the private-sector consortium would have a 30-year lease to operate the airport, with the option to extend it for 30 years.
There will be no additional debt repayments and the government expects to pay a record $1.4 billion to the consortium.
However, the deal is not finalised and JONES has not yet agreed the terms of the agreement with the government.
“We have been working closely with the Government to resolve the project and secure the best terms and conditions for the private consortium,” the statement said. Read more