Private investors into Waterford Airport will be expected to foot the €30 million bill in full before the government deliver a cent of investment.
That's according to a parliamentary response received by Waterford Independent TD Matt Shanahan.
The business case has been before the Department of Transport for a number of months.
It was originally hoped that ground would break on the anticipated development in the final quarter of this year.
Deputy Shanahan says the government's reluctance to part with €12 million for a project of such importance is shameful.
"The business case has been finalised now with the Department and it is with the two ministers involved - who are now looking at the report from the Department, but essentially, the issue here is that private investors have made an application to government to look for some support monies to extend the runway at the airport to allow passenger jet traffic in and this project has been ongoing since about 2017", Deputy Shanahan outlined.
"The upshot of it today is the total capital investment required is probably somewhere in the order of about €26-32 million and that has been fully finalised, but government don't need to worry about that because the total ask of government is €12 million. The kicker here is that the private investors, as in the Waterford Airport consortium, have got to take on all of the capital works themselves and pay for them in full. They will have to build the runway, they will have to do new apron works, they will have to do work on terminal buildings and works done outside on the outside roads by Waterford City and County Council will also be chargeable to the project. When all of that work is done - they can then apply to the Irish Aviation Authority for certification and regulatory approval to operate that runway."
"When all of that is done they can then return to government and ask government to put in the €12m that has been requested of them from a business case that started about two and a half years ago", Deputy Shanahan further explained. "The government do not have to put in a cent into this project, not until the full project is fully completed and operational - before they have to draw down a single cent to this project and that makes it a very unusual project in terms of the way state support is done in the country."
Deputy Shanahan has described the latest news as another "tacit rejection of this region."
"Kerry Airport is now to be funded again to do an expansion of facilities paid for by the taxpayer, but in the case of Waterford - not a cent. Not a cent of money has gone into that project since 2020 to deliver passenger jet traffic to the South East. We need that infrastructure - just like we need a proper functioning university, just like we need a proper functioning, properly resourced model four hospital - and just like we need proper FDI creation and new transport links in this region. None of them are coming."
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