Kerry County Council has cancelled plans to abandon the €15 million Jeanie Johnston replica famine ship, following the intervention of Kerry Group p.l.c.
The council, which together with Tralee Town Council already has about €5 million in liabilities because of the project, has now agreed to invest an additional €80,000-€100,000.
The reversal came yesterday after a four-hour debate at the monthly meeting.
Councillors endorsed a suggestion from Mr Hugh Friel, managing director of Kerry Group, to take responsibility for the ship along with Kerry Group, and SFADCO (Shannon Development), representing regional development and tourism.
Just two weeks ago, a recommendation by Mr Martin Nolan, the county manager, "regretfully" not to go ahead with a proposed takeover of the Jeanie Johnston company seemed to gain widespread approval.
The decision to cut the final link was to be taken today, having allowed time for the company to negotiate with the trade creditors who are owed €1.5 million.
Now, however, the initiative led by the intervention of Kerry Group seems not only to have saved the ship from almost certain liquidation, but has put the long-awaited and thrice-postponed North American voyage back on the agenda.
Kerry County Council and Tralee Town Council are to put €200,000 into the project, with Kerry Group contributing a further €200,000 to ensure the company can trade to the end of October.
"While this project has had considerable difficulties in raising finance to meet the cost, a first-class sailing ship has been built. Most important, the ship has come through its sea trials with flying colours," Mr Friel wrote to Mr Nolan.
The new partnership will allow the Jeanie Johnston to revisit Cork, Dublin and Belfast before sailing to La Coruna in Spain before the end of the year.
In early 2003, the ship will leave Spain for north America for a year, according to the new proposal. Completing the north American voyage would have strong earning potential, "restore the project's credibility, and fulfil one of the key objectives of the project," Mr Friel said.
A new more tightly focused board of directors will now be appointed, with the county council represented by Cllr Paul O'Donoghue. The chairman will be appointed by Kerry Group.
Councillors in Kerry voted 19-3 for the proposal, with Mr Nolan also recommending the Kerry Group proposal at the end of the debate. Further liabilities for the council on the project were "not expected", he said.