The scheme, which was initiated under the Government's Infrastructural Stimulus Programme, will be developed over three years and is scheduled for completion in 2019.
The €400 million scheme will involve the construction of 39 km of new national roads and will employ between 250-300 people during the construction phase of the scheme.
The M11 Gorey to Enniscorthy scheme is the third transport PPP to be signed by the Government since 2012 and follows the €550m Gort/Tuam PPP project, which commenced construction in 2014 and is on target for completion in 2018. The final phase of the N7/N11 Arklow to Rathnew PPP scheme opened to traffic in July 2015.
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Jonathan Taylor, EIB Vice President responsible for Ireland said: "Upgrading the M11 is a key infrastructure scheme that will remove a well-known traffic bottleneck, reducing congestion and improving journey times in the south-east of Ireland. The European Investment Bank is pleased to continue our support for transport investment in Ireland in co-operation with Transport Infrastructure Ireland, Irish and international investors. Improving the long-awaited M11 will benefit the people of Enniscorthy and support thousands of jobs across the country."
(CD/LM)
