Sale of Coillte

[ger12]

The Sunday Business Post leads today with news that the FG/Lab Government has decided against selling off the ESB. The cabinet is to discuss proposals to test the market for the sale of Bord Gais Energy and Coillte, which could raise more than 2 billion.

Coillte had invited tenders to provide an economic evaluation of the public goods provided by its forest estate of 445,000ha throughout Ireland last February .

The sell-off of our State forests was first hinted at in the Bord Snip report. Should this indeed be the case we may see our forests sold to organisations such as the International Forestry Fund which has Bertie Ahern as its chairman.

Much of this land, along with various heritage buildings, was donated to the State by people who wished to give something back to this country. And then there is the question of public access and amenity.

I wonder if future generations will thank us for selling our rich bio-diverse landscape to developers and international power companies?

[johnfás]

I suspect they are more likely to sell the actual industrial end of Coillte and then grant it a long license to cultivate the forests subject to certain conditions and covenants re right of way etc. Rather than selling the landholdings of Coillte themselves.

[JimComic]

if they must sell they should sell it off in such a way as it can't be harmed/ruined, i.e. i'd buy some shares if they were available, as might many of the 'diaspora'


2 Billion shares at a euro each, i'd certainly buy 1-200, maybe more



this land should never be sold to bertie ahern and his ilk

[jpc]

And all at firesale prices!

[johnfás]

And all at firesale prices!

Dunno... Forestry is doing fairly well internationally. It's definitely a different proposition to offloading banking assets. It's what purpose the proceeds are put to that is the problem.

[rash mulligan]

It will be taken as collateral by IMF anyway.

If we could sell to a company with a viable plan to create more jobs with it and the use the money to either pay off personal debts like morgtage debt to get people spending in the economy again or some other stimulus plan then yes sell it.

Selling it just to pay off bondholders is a big NO .

[Reality bites]

If anything is sold in Coillte, it is most likely to be the harvesting rights - not the land, but its also likely something like the National Pension Reserve Fund might invest in it either, or other irish pension funds

[ger12]

Dunno... Forestry is doing fairly well internationally. It's definitely a different proposition to offloading banking assets. It's what purpose the proceeds are put to that is the problem.

It is indeed. Very attractive to developers as the EU may soon require electricity generating power stations to use a certain % of renewable fuel (ie wood chip).

[ger12]

2011 - Labour and Fine Gael oppose privatisation of Coillte forests.
Farm - Farming - Labour and Fine Gael oppose privatisation of Coillte forests

[ger12]

If anything is sold in Coillte, it is most likely to be the harvesting rights - not the land, but its also likely something like the National Pension Reserve Fund might invest in it either, or other irish pension funds

We couldn't harvest it ourselves?