The Minister for Transport, Mr Brennan, has said that the Luas light rail system is a flagship project of the Government and would receive the full level of funding that was committed to its construction and completion.
Rejecting media reports following the publication of the Book of Estimates on November 14th that suggested the Luas project would be delayed as a result of restrictions on the level of Government investment, Mr Brennan said Luas would receive its full allocation.
"I can state clearly today that the approved budget of €675 million, including contingency, will be invested in this project, Mr Brennan said.
"The provision for next year of €126.9 million will meet the required investment in the next phase of the project.
"In addition to this capital investment, a further €5.6 million will be allocated for mobilisation costs associated with the actual commencement of the Luas service."
Mr Brennan was speaking at a ceremony in Dublin for the formal signing of the Luas operating contract between the Rail Procurement Agency and Connex Transport, the company awarded the contract for operating the service.
"If there are delays to the Luas then it will not be because of any restrictions on funding," he added.
"I am disappointed at the reports that some slippage has occurred in the construction /design programme but I trust that everyone concerned will do all in their power to ensure no further delays will take place and that the construction of the system is completed at the earliest possible date so that commuters will have access to services in the early months of 2004."