It is important to get some facts down
Tom Finn is correct in stating he wouldn't touch it with a barge poll (though we should wait for the actually agreed minutes of that meeting to actually prove he said that). The project is not profitable and there is a onus on Irish Rail not to engage in any activity which will further increase the loss unless the DOT agree to cover the difference
In the words of Dick Fearn CEO IE, anything is profitable given a large enough subsidy. Everyone knew it was going to make a loss
The 4.6% return is very shaky and doesn't stand up to aggressive evalaution, a slight reduction in demand over the estimates puts it in trouble. The other rail projects are 10-12% return
The cost of the line in either 2007 or 2015 prices is more or less exactly what informed observers where expecting, everyone is running around in panic as if it was some class of surprise
And let us not forget Transport 21 contains roughly 2 billion to cover for cost increases due to inflation etc over the 10 year window
As is always the case in Navan the whole thing hangs on Meath CC, will they raise the 25% will they actually get the zoning sorted out. When will they seek authorisation to move that damn sewer main
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