Ireland's toll revenues crash
National Roads Authority chief executive Fred Barry said cumulative revenue from the State's share of the PPP tolls had amounted to €2m by the end of 2011 but reduced vehicle numbers due to the recession will change this for 2012.
The government currently provides subsidies on only two road schemes: the €1bn M3 motorway in Co Meath; and the €600m Limerick tunnel, where traffic volumes are significantly below guaranteed threshold levels. These schemes are expected to cost the State about €7m a year until volumes improve.
The Waterford toll road, where the commercial risk has been carried entirely by private partner Celtic Roads Group (Dragados and BAM) has been another poor performer, said Barry. Its traffic volumes were as low as one third of capacity during 2011.