The government has signed a €282 million contract to upgrade parts of the N7 and N11. The project will see the construction of a flyover at Newlands Cross on the N7 Limerick/Cork/Waterford Road in Dublin.
While the N11 between Arklow and Rathnew will be upgraded to a 4-lane dual carriageway.
The project is the first Public Private Partnership to be given the go ahead since the beginning of the financial crisis.
The announcement was made by Transport Minister Leo Varadkar.
The government says this project "will add to the stock of economic infrastructure in the State and will create and sustain important jobs in the construction sector".
Minister for Public Expenditure Brendan Howlin has said "I am very pleased that we have achieved sign off on the latest roads project to be delivered using the Public Private Partnership model".
This will encompass two projects:
- The N11 Arklow / Rathnew Scheme will form part of the N11 Rosslare to Dublin route and is also part of Euro-route E1. The scheme also incorporates the upgrade of the N7 Newlands Cross Junction. More specifically the scheme comprises the following separate elements:
- N11 Rathnew to Arklow Road Improvement Scheme (16.5km of new dual c/way linking the existing M11 Arklow Bypass and M11 Ashford/Rathnew schemes);
- N7 Newlands Cross Junction Upgrade Scheme (Replacement of existing signaled controlled at-grade junction with a grade separated junction on the N7)
The European Investment Bank (EIB) is to provide 50% of the project debt of around €120 million for the N11/Newlands Cross scheme. The Bank of Ireland is the other co-funder for the project.
Minister Howlin added "I also welcome the continued support and commitment of the EIB in the provision of our national infrastructure. This commitment is an indication of their confidence in our PPP Market and in our track record of delivery of successful PPPs".
