Minister McGrath publishes the Prospects 2022 report
Published on: 22 July 2022
The Minister for Public Expenditure and Reform, Michael McGrath T.D., has today, Thursday, 21st July 2022 published the Prospects 2022 report which highlights 50 of the largest individual projects that make up Project Ireland 2040.
This report aims to provide further visibility on the sequencing of Ireland’s priority infrastructure projects over the coming years, thereby facilitating firms to plan commercial bids for these major infrastructure projects. The Project Ireland 2040 Annual Report for 2021, alongside 3 Regional Reports outlining progress were also published today.
Prospects 2022 sets out a clear pipeline for some of the largest individual projects that comprise Project Ireland 2040. This sample of the pipeline spans projects that are currently at planning and appraisal stage, to projects which are nearing completion. Construction firms in Ireland, the EU and internationally, are invited to consider the role that they can play in delivering these projects and in doing so help to fulfil the ambitious vision within Project Ireland 2040.
The Annual and Regional Reports for Project Ireland 2040 showcases the steady progress made in the implementation of Project Ireland 2040 in 2021, which sets out a clear long-term strategy backed by investment of €165 billion over a 10 year period as presented in the National Development Plan 2021 - 2030. The revised National Development Plan was published in October 2021.
Speaking about the publication, Minister McGrath said:
"The Government is committed to effectively delivering the National Development Plan for our country. It will build a more sustainable and resilient Ireland for the benefit of all our people.
“Significant progress has been made in the delivery of Project Ireland 2040 and the National Development Plan. Today’s publication of the Annual and Regional Reports for 2021 highlight the progress, including over 5000 social housing new builds, the completion of the N4 Collooney to Castlebaldwin, and over 50 flood relief schemes completed. Progress in the delivery of vital infrastructure in areas such as housing, transport, education, enterprise, sport and climate action is outlined.
“This year a record €12.2 billion is allocated for capital investment and a significant number of projects are at planning and appraisal stage indicating a solid pipeline of activity will continue to be available to the wider construction sector.
"The Prospects 2022 report is an important and accessible publication, and I would encourage industry representatives across the sector to identify potential opportunities to maximise their participation. Ireland needs competitive, dynamic, and sustainable construction firms that can deliver high quality physical infrastructure in line with Project Ireland 2040, and the Prospects 2022 report sets out some of the largest projects as a signal of this Government’s ambitious capital programme under the NDP.
“I am also conscious of the challenges to the delivery of the NDP posed by the increases in the prices of construction materials in the aftermath of the pandemic and as a result of the Russian invasion of Ukraine. My department has put in place a series of policy measures to address these challenges and will continue to assess and respond to a rapidly changing environment."