On 29 September 2015 the Government announced its capital spending plan, entitled Building for Recovery 2016 – 2021 (the “Plan”). The Plan is worth an estimated €27 billion in direct investment by the Exchequer over 6 years. This amounts to an average of €4.5 billion per year and is expected to create in the region of 45,000 jobs during the construction phase. Along with direct investment, the Plan includes a third phase of PPP investments of about €500 million and State-owned sector investment of around €14.5 billion. The Plan is said to represent over 3.5% of GNP each year over its duration.
According to the Plan, the €14.5 billion non-Exchequer component will be delivered by State companies, which include ESB, Irish Water, and Ervia (formerly Bord Gáis Éireann). These investments will primarily be targeted at energy infrastructure development including renewable energy and smart metering and on the enhancement of water and wastewater infrastructure.