In a major boost to the Irish education infrastructure, BAM has also undertaken two major school projects on behalf of the Department of Education and Skills. The first of the projects, known as Schools Bundle 3, saw the delivery of eight brand new Irish schools on time and ahead of schedule in Wexford (Gorey), Waterford (Tramore), Galway (Doughiska), Westmeath (Athlone), Donegal (Letterkenny), Leitrim (Ballinamore), and Limerick (Doon). This project was awarded silver in the Best Completed Project category at the recent Partnership Awards, held in London. Following the completion of Schools Bundle 3, the National Development Finance Agency selected BAM to undertake Schools Bundle 4, which will see the delivery of four post primary schools on time and within budget this year.
In January, BAM reached financial close and turned the sod on the €230 million N25 New Ross Bypass PPP,” says Cullinane. “Design and enabling works are now underway on the project, which will support up to 2,100 jobs locally and across the country. We have also reached Financial Close with the Transport Infrastructure Ireland (TII) for the €350 million M11 Gorey to Enniscorthy PPP motorway project. BAM Ireland also finalised a €135 million deal with the National Development Finance Agency (NDFA) at the end of last year for the construction and refurbishment of seven landmark courthouses across Ireland.”
The commercial office building market has been strengthening over the last year. BAM has recently completed a significant new office development at One Albert Quay and commenced works on the Capitol Cinema site, both of which are in Cork and are joint developments with JCD. Additionally, works have commenced on One Molesworth Street for Green REIT and major progress has been made on the construction of a major office building for an international client at Sandyford.
What sectors have opened up for BAM recently? “We operate across the entire island of Ireland, and, in collaboration with other BAM operating companies, we are also involved strongly in the Middle East, Great Britain, and Europe. Public projects form part of our core business and Public Private Partnership (PPP) is an important market for BAM too,” explains Cullinane. “While we continue to make a significant and lasting investment in the infrastructure of the country through PPP projects, a significant focus for us in recent years is to ensure that we also significantly grow our private sector business. This is in line with our strategy, as experience in recent years has shown that the new forms of contract for public works in Ireland have proven adversarial rather than partnering in nature.“
Theo Cullinane says that it is important that every construction company learns from the past and ensures that the sector is managed in a responsible and sustainable fashion. “For BAM, sustainable practice in the market place is closely interlinked with environmental sustainability,” he states. “BAM has been able to grow its business significantly in recent years, because there is an increasingly widespread consciousness amongst industry leaders about the need to reduce their carbon footprint. We believe that environmental sustainability creates value for our business, improves efficiency, develops client and supply chain relationships, ensures that we attract and retain talent, and improves our decision-making processes.”
With experience and leadership, comes responsibility, according to Cullinane. “Our reputation in this area has certainly helped us to win contracts and create employment right across Ireland. Such expertise is sought after internationally, and we firmly believe that responsible business practices can help the Irish construction industry grow in a sustainable and organic fashion.”
Cullinane is certain that government investment is always going to be a crucial factor for the building sector. “The investment in the inter-urban road network in recent years represents a major success for the State; however, there is unquestionably more to be done and we look forward to the accelerated progress of vital projects such as the N7 Naas Road widening, the Dunkettle Roundabout upgrade, and the M28 Cork to Ringaskiddy Motorway scheme. The Government’s shelving of plans for the Cork-Limerick motorway was extremely disappointing for us. This would have cut 30 minutes from the commute time between Ireland’s second and third largest cities and, more importantly, would represent a safer gateway between the two hubs.”
The rewards for Ireland are obvious, he says. A developed road network will attract foreign direct investment, will improve trade links, and bring more tourists to the regions. Towns and businesses across Ireland are waiting for these projects to get the green light, he believes, and it is crucial that funding is put in place to further the development of these projects as a matter of urgency.