A much-mooted Dublin regeneration scheme will reportedly go ahead, despite suggestions the development agency behind the project should be disbanded.

Works at the Grangegorman site is expected to created around 4,500 building jobs, however, a report published yesterday recommended the agency proposing the scheme should be closed.

The McCarthy report called for the disbandment of the Grangegorman Development Agency, which in 2002 was tasked with redeveloping a modern campus for the Dublin Institutes of Technology on the 30-hectare site.

Despite the recommendations, the agency has insisted it is still committed to the development.

Chief executive Gerry Murphy, who is awaiting the outcome of Government consideration, said the agency "remains committed to meeting current project deadlines".

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"The Grangegorman Development Agency is aware of the publication of the report which has gone to Government on public service numbers and expenditure programmes. The report makes many recommendations on a vast array of issues for Government to consider," he said.

"Like all bodies mentioned in the report we will await the outcome of this consideration."

Colm McCarthy, chairing the Special Group on Public Service Numbers and Expenditure Programmes, put forward state spending plan cuts of €5.3bn.

Dublin TD Joe Costello lambasted talkd of ditching the Grangegorman Development Agency, and the Grangegorman project entirely.

He also said the suggestion Dublin Institute of Technology should to transfer to Tallaght was "ludicrous in the extreme".

"Transfer of the project to Tallaght would have no financial benefit to the exchequer as a new site would have to be purchased," he said.

"Likewise, there are no immediate capital savings since the project is planned as a public private partnership. Moreover, the money and time spent on three years of planning, preparation and consultation with the local community would be wasted," added the Labour TD.

(PR/JM)