The South East Technological University has formally concluded the process of purchasing the former Waterford Crystal site on the Cork Road in Waterford City.
Minister for Further and Higher Education, Research, Innovation, and Science, Simon Harris TD, has confirmed that his department has approved the purchase of 20.3 acres of the site.
A formal contract signing took place at an event today.
A portion of the site will remain in private ownership.
SETU will purchase 20.3 acres of the 37-acre Waterford Crystal site, the entirety of what was offered to SETU.
"I'm delighted to have attended the formal signing of the contracts for the acquisition of 20.3 acres of the former Waterford Crystal site for SETU", said Senator John Cummins.
"Today is a very significant day for SETU and I commend all those who have been involved throughout this process. I particularly want to thank Minister for Further and Higher Education, Research, Innovation and Science, Simon Harris and his team whom I have worked closely with over the past twelve months to realise this acquisition. I now look forward to working with all stakeholders to achieve their vision for the site, one which will benefit students, industry and the local community. I am particularly happy that work is at an advanced stage to commence works on the former offices and showroom on the site which I am informed will happen in the first half of next year".