Work is set to start next year on upgrading the Newlands Cross bottleneck on the Naas Road, and is expected to be completed in 2014.
Newlands Cross sees around 120,000 vehicles going through the junction every 24 hours, making it one of the busiest intersections in the country.
The multi-million euro funding is set to be provided through a Public-Private Partnership involving a significant contribution from the European Investment Bank and the Bank of Ireland. This is the first such arrangement for a roads project for a number of years.
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"I am delighted that the Government has taken the decision to prioritise the upgrading of Newlands Cross next year. This is a junction that has been causing severe traffic problems for the residents of Clondalkin, Saggart, Newcastle and Rathcoole over many years.
"With 120,000 vehicles going through the junction every day, this project will make a real difference to commuters and businesses within our community by putting an end to the gridlock around the intersection. It took years to get the Red Cow fixed, and with this project set to get off the ground, one of the major traffic bottlenecks in the area will be gone.
"The fact that the Government has managed to get funding for this project in these uncertain times is a testament to its determination to continue to develop the country's infrastructure in spite of our difficulties.
"Thankfully it is our community that will see hundreds of construction jobs created by a project that will make a real difference in the daily lives of people living in our community."
(CD)
