19/02/2010

NI Executive On Track For Capital Pledge

Despite the tightening public expenditure position, the Northern Ireland Executive has said it is on track to deliver £4.6m per day of capital investment in 2009-2010.

Finance Minister Sammy Wilson revealed the figure during a visit to the 'Belfast Streets Ahead', Public Realm Project to assess recent progress on the £28m project.

Speaking at the site the Minister said: "This project is an example of the Executive’s continuing efforts to invest in the physical infrastructure of Northern Ireland, to improve the quality of life for our residents and to attract inward investment whilst encouraging business development.

"The latest forecast information indicates that gross capital investment by the Executive during 2009-10 will be approximately £1.7billion. Investment on this scale benefits the local community and supports much needed jobs within the construction industry. Farrans and their subcontractors are employing 75 workers on this project alone."

During the visit, Mr Wilson met with Eamonn Sweeney, Managing Director of Farrans (Construction) Ltd, the main contractors of the project.

The Minister concluded: "It was interesting to learn from Farrans Ltd today that in 2010, it anticipates that more than 50% of its turnover will be derived from projects in Great Britain.

"Through winning local contracts, local firms like Farrans are developing the expertise to bid for and win contracts in other regions of the UK and further afield. Their success is an example to others across Northern Ireland."

(NS/BMcC)

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