The government has approved €5 million euro in capital funding for a runway extension at Waterford Airport.
Minister of State John Halligan confirmed the news this afternoon.
The remaining €7 million euro for the project will be met by regional private investment and local authorities in Waterford, Kilkenny and Wexford, who have committed funding of €5 million and €2 million respectively in return for an equity shareholding in Waterford Airport.
The runway, when extended from its existing length of 1,433 metres to 2,280 metres, will be able to accommodate large commercial passenger aircraft such as Boeing 737s and Airbus 320s.
In welcoming the funding Minister Halligan said;
“This is a massive announcement when it comes to the future development of Waterford and the South East. Today’s commitment from government to provide capital funding, along with investment from a number of prominent regional stakeholders will go a long way towards securing the future of what is vital transport infrastructure for the South East.”
“Indeed, I welcome the contribution of regional business, who understand the importance of a thriving airport when it comes to trade, transport and tourism.”
Minister for Transport Shane Ross said, “this model of funding represents an excellent example of cross community and regional cooperation. The airport’s proposal is fully aligned with the commitment in Project Ireland 2040 to support the dispersal of economic growth throughout all the regions.”
The Minister said he was ‘optimistic about the potential upside of the proposal and was particularly struck by the commitment of the private sector investors to commit not just funding but their business expertise and experience to driving the airport forward’.
