- 14 September 2012
The members are also being advised that significant progress has been made by Covanta on securing project financing for construction of the plant and by Dublin City Council in dealing with the remaining regulatory issues. In relation to the securing of project finance, Covanta and their financial advisors are in the final throes of negotiation with a group of banks. Given the situation with financial markets, the due diligence procedure is far more protracted than heretofore.
For these reasons the Council feels it is reasonable to consider an extension to the decision/commencement date. Every effort is still being made to commence the project before the end of the year but it will be at least four to six weeks before the revised date can be confirmed.