Concerns grow over major Limerick road projects after construction company enter receivership
Concern has been raised at the future of the Coonagh to Knockalisheen Road after Roadbridge entered receivership | PICTURE: Adrian Butler
A YEAR after work on a vital €58m road restarted, concern has now been expressed over the future of the scheme.
It comes after Roadbridge, the main contractor on the Coonagh to Knockalisheen Road, which will open up the Moyross estate, announced it’s to appoint receivers in a move which will put at least 150 Limerick jobs at risk.
The Build our Road coalition, which lobbied Transport Minister Eamon Ryan to get the multi-million euro scheme, the first phase of the Northern Distributor Road, back on track, has described the news as “horrible,” while Sinn Fein’s two City North councillors are seeking an urgent meeting with local authority bosses on contingency plans for the project.
“Horrible news today regarding Roadbridge,” the Build our Road campaign stated in a Tweet. “A massive blow to jobs across Limerick and the wider region. It’s imperative that the Northern Distributor Road is completed as soon as possible. There’s also a direct knock-on to the housing developments in Delmege causing a lot of worry. A sad day for many in Limerick.”
In a statement issued on Friday afternoon, the board of Roadbridge said as a result of “insurmountable financial challenges”, it has requested Bank of Ireland to appoint receivers.
The receivers are Stephen Tennant and Nicholas O’Dwyer of Grant Thornton.
Founded in 1967, and headquartered in the Ballysimon Road in Limerick, Roadbridge is a civil engineering and construction company which directly employs 630 people in Ireland, Britain and Sweden.
It’s understood approximately 150 staff are employed by Roadbridge here.
But like many big firms, a number of downstream jobs are dependent on the company. Just before the news was announced, construction equipment was removed from the site of the road project.
Tánaiste and Minster for Enterprise, Leo Varadkar, described last week’s development as extremely concerning. “My thoughts are with the employees, many of whom I know dedicated their entire careers to the company,” said adding that he has asked officials at the his department and those in Enterprise Ireland to engage with the company as a matter of urgency.
Source LimerickLeader
