State to pay €21m to motorway and tunnel operators after fall in traffic
Private firms behind M3 motorway and Limerick Tunnel are due compensation for Covid-19 losses after they were given traffic guarantees so that toll revenue would hit certain levels
The state will have to pay a compensation bill of up to €21 million to the private operators of the M3 motorway and Limerick Tunnel due to the impact of Covid-19.
When both projects were being awarded, the state gave traffic guarantees to the private operators so that they would earn a certain level of toll revenue every year. However, the Covid-19 travel restrictions have led to a large fall in traffic levels on the...
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