CIE would lose £100 million if Dublin Corporation's amendments to the Spencer Dock development were upheld, the Bord Pleanala hearing was told yesterday.
Dr Ray Byrne, former group head of programmes and projects with CIE, said: "The difference between the 4.65 million square feet of development approved by Dublin Corporation and the proposal to develop up to six million square feet represents a potential loss of £100 million.
"The Spencer Dock project will provide CIE with several hundred million pounds of funds in the short to medium term for essential investment in public transport infrastructure and rolling stock."
The development was "of critical importance to the CIE group in the context of funding of its long-term investment programme in public transport infrastructure and facilities".
This investment was necessary due to "low government support for public transport in Ireland and government constraints on increasing fares". E is "obliged to find other sources of income to finance critically essential investment in public transport".
Mr Karl Kent, one of the inspectors, asked if commercial considerations were uppermost in CIE minds. Dr Byrne replied that CIE was not making apologies for going after commercial ventures. "A lot boils down to funding," he said. The needs of CIE customers and passengers had to be addressed.
An underground station for heavy rail at Spencer Dock was the only option being considered by CIE, even though this might be rejected by the Government. E was considering the option of an overground rail link, "things have moved on" and that option was not longer preferred.
Yet that The ultimate decision, he added, lay with the Government, and it might they may reject an underground station.
Mr Des Johnson, who is chairing the hearing, persistently asked if, given the Government's possible rejection of the underground option, it would not "make sense to retain all options".
Dr Byrne said CIE believed that an underground option was best.
He outlined the proposed public transport services for Spencer Dock:
A Docklands bus link to Heuston station;
Route 3 bus service to be strengthened on completion of the Macken Street bridge;
The number 90 Stationlink bus to be extended to the quays;
The 25A Cityswift service on Lucan QBC, the 65/77A Cityswift service on Tallaght QBC and the 39 Cityswift service on Blanchardstown QBC to be extended to the docklands during 2000;
A Docklands QBC to be introduced;
A rapid rail link to Dublin Airport with a Spencer Dock terminus;
Rail services at Spencer Dock station to relieve capacity constraints on Heuston and Connolly stations;
The Luas line to be extended to Spencer Dock via line C.