Finance and contractors are in place for the major infrastructure project destined to replace peak gas-fired generation with overseas renewable or nuclear electricity. Thomas Hubert reports from Paris.
Tokyo is worth paying attention to because it shows how to have your cake and eat it: A growing, rich, modern city with low rents, and a unique culture.
A Spanish investment firm is buying out the hedge fund managers that bankrolled the State’s rural broadband contractor, providing longer-term backing. What do we know about the terms of the deal?
In a major interview, Eamonn O’Reilly, outgoing chief executive of Dublin Port Authority, discusses the extreme challenges facing the shipping industry and how he is funding the €1.6 billion masterplan to expand the port.
The Department of Communication has declined a fresh freedom of information request for the full National Broadband Plan contract. Its response reveals the volume of documents kept secret and the fact that the contract has changed multiple times since it was signed.
New financial information adds complexity to the structure of loans advanced by investors in National Broadband Ireland, whose chairman David McCourt is now separately borrowing against related assets.
The government has been at pains to answer questions from the opposition on the capital structure of National Broadband Ireland. Misrepresentation of The Currency’s reporting did not help clarify matters.
The financial details and the appointment of corporate restructuring advisors revealed by The Currency this week raise serious questions about the future of the National Broadband Plan. They could have been addressed earlier if the project was not so opaque.
After three days of revelations on its finances, National Broadband Ireland is set for a restructure as the firm of its chairman David McCourt appoints an international investment bank to explore a new capital structure.
Before National Broadband Ireland delivered its first connection, it started spending money on another priority: Payments to companies controlled by its own investors.
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