SIB's performance a 'shot in the arm' for NI, says Minister

Finance Minister Ian Pearson has described the first year's work of the Strategic Investment Board (SIB) as a "major shot in the arm for Northern Ireland's infrastructure".

Speaking at a press conference in The Edge, on Belfast’s Laganside, to mark the publication of the SIB’s first Annual Review, Mr Pearson said that in its first year of business, the organisation has already had an enormous impact on the value of private sector investments in Northern Ireland infrastructure.

He added: "The Strategic Investment Board has already put more than twice the value of privately financed projects in Northern Ireland out to market, than had been achieved in the whole of the previous decade. That’s what I call making a difference."

The Annual Review presented a summary of the Strategic Investment Board’s achievements during it’s first year of activity and the financial statement for the period of incorporation on March 7, 2003 to March 31, 2004.

Other achievements highlighted in the SIB's involvement in a wide range of projects, including eight major programmes with a combined capital value in excess of one billion pounds, including potentially the largest education programme in the UK.

In the area of health, the new South West Hospital, planned for Enniskillen, will be designed and built on principles adopted by the SIB, in conjunction with health officials. It is hoped that this building will be a leading edge blueprint to influence the design of future facilities.

Other successes include Northern Ireland’s infrastructure which is benefiting from the close working relationship between the SIB and officials from the Water Service and Roads Service, in seeking to improve delivery in these areas.

A business plan, produced by the SIB, has shown the viability of a single multi-use sports stadium for Northern Ireland.

SIB Chairman, Tony Watson, said that the Board had gone from a standing start to become an "influential and effective force in the delivery of infrastructure investment and reform, for the benefit of Northern Ireland".

He said that the level of achievement in the first year has been outstanding, with the SIB team accelerating timetables and adding value to health, roads, water, education, accommodation, sports and human resources projects as well as providing background support in many others.

He added: "We are introducing new and creative ways of thinking, innovative processes and practices as well as hands-on help, to deliver projects that will benefit us all."

(SP)