A significant funding package has been announced to support the future development of the Cork Institute of Technology (CIT).

The €18.75 million funding under the government's Project Ireland 2040 will support significant building upgrades and refurbishments for Cork IT's Bishopstown campus.

Local Fine Gael Senator, Tim Lombard welcomed the investment and explained how it will help the institution evolve.

"This announcement proves that Project Ireland 2040 is delivering for Cork. The funding represents a key investment for Cork City and will further boost the role played by CIT, part of the Munster Technological University (MTU) consortium along with IT Tralee, as a driver of economic development in the southern region," said Senator Lombard.

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"CIT is 45 years old and this is a particularly welcome investment for all who work and study there. I understand the refurbishment project will be phased in over five years to minimise disruption to students and staff. This will include various works and improvements including the upgrading of the mechanical and electrical services.

"It will also allow for a number of sustainable technologies including a combined heat and power plant, solar photovoltaic system, LED Lighting and upgraded building management system.

"Whether it comes to academic or sporting achievements, CIT and their students have always excelled and led the way. I have no doubt this will continue in the coming years."

Minister of State for Higher Education, Mary Mitchell O'Connor added: "The capital investment announced today will provide upgraded facilities that improve the overall student experience, significantly improve the building's energy performance, and allow CIT to continue to expand its student numbers.

"As part of Budget 2020, we have also announced that we are dedicating €90 million over the next three years to support our higher education institutions to achieve TU designation and to support the further advancement of established technological universities.

"The establishment of the MTU is a key Government priority to deliver on regional development objectives for the southern region under Project Ireland 2040."

(CM/MH)