The Clare Champion Clare news, sport, entertainment and local notes
Operating profits at the consortium which operates the €800m Limerick tolled tunnel last year more than doubled to €16.44 million. New accounts show that DirectRoute (Limerick) Ltd last year enjoyed the operating profit surge as revenues soared by 38 per cent from €22.55 million to €31.06 million. A large contributor to the surge in revenues was Transport Infrastructure Ireland (TII) making ‘operating payments’ of €8.77 million to DirectRoute Limerick last year. The €8.77 million is a nine fold increase on the €975,965 paid out under that heading by TII to the consortium in 2020. As the national road network recovered traffic volumes from the early pandemic hit 2020, the company’s toll income last year increased by 15.45 per cent from €11.96 million to €13.8 million. The DirectRoute firm also received ‘traffic guarantee’ payments of €8.4 million from TII making up the overall revenue total of €31.06 million. The traffic guarantee payments are made when daily traffic volumes don’t exceed 23,000 …
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