The Interim Chief Operating Officer of Ennis 2040 remains confident it can repay its €10 million loan while admitting there’s an element of “risk”.
In June 2021, members of Clare County Council voted 23 to five in favour of granting the substantial loan to the Ennis 2040 Designated Activity Company.
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The loan is interest-only for the first three years meaning the DAC begin to pay the principal next year, with the 2026 repayment amounting to €486,273.
Speaking after a briefing to Clare’s elected councillors this week, Ennis 2040 DAC Interim COO Padraic McElwee says the company will soon begin to generate revenue which can go towards repayments.
You can listen to the full interview below.
