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Wed 05 May 2009Pension funds willing to put €6bn into State projects
IRISH PENSIONS funds have indicated to the Government they would be prepared to invest up to €6 billion over the next three years in a range of State infrastructure projects as part of a plan that could secure about 70,000 jobs in the construction industry here, The Irish Timeshas learned.
Under a detailed plan devised by the Construction Industry Council (CIC) and submitted to Minister for Finance Brian Lenihan in the run-up to the supplementary Budget, Irish pension funds would invest in a State infrastructure bond that would provide much-needed finance for the building of roads, railways, schools, hospitals and utility projects.
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