To ask the Secretary of State for Northern Ireland when the new building proposed in Derry by Invest Northern Ireland was agreed in principle by the Minister for Enterprise, Trade and Investment; if he will make a statement on the progress with the project; how many evaluations of the project have been carried out; and what target date he has set for the commencement of the building.

Ministerial approval, which allowed the project to proceed to final negotiation of the legal contracts with the preferred developer, was granted on 10 December 2004. These negotiations have proven to be difficult. However Invest NI is making every possible effort within the requirements of public accountability to reach a satisfactory and timely resolution to the outstanding issues. Other than the normal tender evaluation process and an associated economic appraisal, there has been no subsequent evaluation of the project. A target date for the commencement of building cannot be established until completion of the contract negotiations and legal documentation.