Racing: Some €100 million will be spent developing the Curragh racecourse into one of the finest venues in Europe with work on the three-year project to begin in April.
Development at the Co. Kildare venue is being financed by the Aga Khan; the Turf Club, sponsorship from the racing industry, a grant from Horse Racing Ireland - subject to board approval - and by bank borrowings.
A five-level grandstand - which will include a 900 capacity restaurant on the top floor - is envisaged and officials expect the first phase to be completed in time for the 2007 Irish Derby in early July.
Planning permission will be lodged this month and building is expected to start before the end of the year.
Construction is not expected to disrupt race meetings.
The second phase, incorporating hospitality and betting facilities, is scheduled for completion in summer 2008.
Plans are also under way to develop a new road and hotel behind the existing grandstand, which will be demolished after this year’s flat season.
The intention is to retain part of the existing Stand House Hotel - which was bought by the Aga Khan and gifted to the Turf Club - and to incorporate this into the new development.
"This is going to be a wonderful facility at which to showcase our industry," Pierce Molony, Senior Steward of the Turf Club, said.
"It is a major investment in Irish sport and we are conscious that it needs to pay its way. Hence the development of a new hotel which will mean that we will be open for business 365 days a year."