Fine Gael recently reiterated its commitment to an additional 4.1 billion euro in capital spending over the next 4 years.
The money was announced in the Government’s mid-term review of its capital plan, and had been flagged in Budget 2017 and the Spring Economic Statement.
It's hoped that the required 70 million euro to develop the North Quays will come out of that fund.
Speaking in the Seanad, Fine Gael Senator Paudie Coffey said Waterford is ready for investment, given that Dublin is currently an "overheating vortex" of economic activity.
"It is critical that we invest in essential infrastructure," he said. "The North Quays in Waterford are similar to a mini Docklands and there is huge potential for the city to grow in that area."
He says the initial buy-in from the government is essential if Waterford is to secure €300 million in investment from the Saudi Al-Hokair group.
