‘This is the largest investment in capital projects at UCC in our history.’
The European Investment Bank (EIB) is lending €100 million to University College Cork.
The investment is part of an ambitious €241 million development plan for UCC.
More than 500 new construction sector jobs are likely to be created as a result of the development.
“This is the largest investment in capital projects at UCC in our history,” says UCC President Dr Michael Murphy.
More than €60 million will be invested in student accommodation.
The investments breakdown is as follows:
- €64 million investment in student accommodation;
- €37 million to build a new Cork University Dental School, Research Centre and Hospital;
- €27 million to fund Western Campus Development including the Cork Science & Innovation Park (Phase 1) and outdoor sports facilities;
- €90 million for a new student hub, ICT services, facilities upgrade, refurbishment, building extensions as well as flood remedial works and Western Gateway infrastructure;
- €23 million to fund new clinical medical school for the Cork hospitals;
- The funding will also help facilitate a €10 million University investment across University Hospital Waterford, University Hospital Kerry and South Tipperary General Hospital.
The total development programme is valued at €241 million. The EIB is lending €100 million, with the rest of the money coming from capital grants, borrowings and philanthropy.