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Cabinet Decision on Coillte – Coveney
- 21 June 2013
Agriculture Minister Simon Coveney recently announced the Government decision in relation to the proposed sale of Coillte Harvesting Rights. The Minister said that:
…at its meeting today, the Government decided that now is not the appropriate time to proceed with the sale of harvesting rights in Coillte and that the current focus must be on the restructuring of Coillte, overseen by NewERA and the relevant stakeholder Departments.
It was also decided that a robust analysis be carried out to evaluate how to give effect to a beneficial merger of Coillte with Bord na Mona to create a streamlined and refocused commercial state company operating in the bio-energy and forestry sectors, as committed to in the Programme for Government. It further decided that it will consider all the options to maximise value from Coillte when the restructuring is complete in 18 months time.
The Minister continued:
…this analysis was quite extensive as it not only involved financial calculations associated with the sale process but also the possible impact on the timber industry, public access to recreational land, environmental and social impacts and consequential implications for the company. As I have said, on numerous occasions, the Government will continue to proceed carefully with the finalisation of any decision on this matter as we are determined to realise commercial potential but also to protect the public value that Coillte offers by maintaining public access to its forests and supporting the broader timber industry.
