CIÉ through its subsidiary Bus Éireann is planning a second Busáras on an eight-acre site in the IFSC as customer numbers for the bus company near 50 million per annum.

The total spend on the project has not been disclosed, but CIÉ hopes the new hub will be self-financing through a combination of commercial, residential and retail developments on site. The land is currently owned by CIÉ and forms part of the east side of Connolly Station.

Bus Éireann has revealed that plans are under way for the construction of what it calls "a major bus hub" in the IFSC. The company's customer numbers climbed to their highest level in 2006 and now stand at a record 49.5 million in 2006, up from 48 million in 2005. Increases in customers have been recorded right across the business.

CIÉ said the new facility would be more than just an overflow for Busáras and would be a major transport and commercial development for the IFSC and surrounding areas. A strong rise in customer numbers had made the move necessary, explained the chairman of CIÉ Dr John Lynch.

"Bus Éireann is now hitting the 50 million mark in terms of annual customer numbers. That's a record figure and it follows a consistent year-on-year growth trend, which is not going unnoticed. Independent studies are also highlighting the company's strong performance in recent years, delivering major growth in services and doing so against a backdrop of increasing congestion."

In particular Bus Éireann commuter services had grown in the last six years, he said. Figures showed that commuter departures from Busáras rose from 53 per day in 1988 to 101 in 2000, rising to 271 per day in 2006 to meet demand.

He said gridlock was significantly detrimental to the financial position of the company, imposing an excess cost of €20 million on Bus Éireann. He added that the site was ideal in terms of integrated transport, its location in the IFSC and proximity to the North Docklands, which would be developed further in the coming years, he said.

The proposed station will be located on lands adjacent to the east side of Connolly Station, facilitating access between rail and bus facilities and the Red Luas Line which is to be extended to the North Docklands.

Such a major capital project for CIÉ may appear daunting but a key component of the development is self-financing through the inclusion of a retail, commercial and residential dimension.

Consultants are expected to tender proposals for an outline development scheme for the site in early 2007.