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Tuesday March 25, 2009

Capital Investment Is 30% Higher Than Last Year - Dodds

"The Executive remains committed to investing in major capital investment projects at unprecedented levels. This year we will spend over double what we did only five years ago."

Northern Finance Minister Nigel Dodds has revealed that the latest Forecast Outturn returns from departments indicate that capital investment spend will be over 30% higher this year than in 2007-08.

Speaking during Question Time in the Assembly, the Minister indicated that this year's expected net capital investment of £1.5billion is significantly higher than at any time in Northern Ireland's history. Mr Dodds said: "The Executive remains committed to investing in major capital investment projects at unprecedented levels. This year we will spend over double what we did only five years ago.

"This funding is not just investing in the future of Northern Ireland, but also helping support the construction industry during the current economic downturn.

"Some of the major transport projects that have been taken forward this year include the £90million Roads DBFO 1 & 2 projects, which covers the Westlink upgrade, widening of the M2 between Sandyknowes and Greencastle and dualling on the A4 Dungannon to Ballygawley road among other works, as well as some £37million on Strategic Road Improvements and £38million on Local Transport and Safety Measures.

"In terms of Education, two major Public Private Partnership projects were completed this year involving £31million for the Holy Cross College Project in Strabane and £24million for the Bangor/Nendrum project.

"The Downe Hospital capital project has also progressed with almost £26million in investment due by the end of the year and around £19 million for Phase A of the redevelopment of the Ulster hospital.

"These are only a few of the numerous improvements being made by the Executive in our capital infrastructure to support the better delivery of public services across Northern Ireland".

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