An announcement that an expanding Irish telecoms company will move to the former Krups plant in Limerick is expected in the next few days.

The new tenant, which employs 200 people at another location in Limerick and has plans to increase that figure to 450 at the former Krups plant, will share the 165,000 sq ft property with other initiatives. These include a CERT training centre for the hotel and service industry, a centre for small and medium-sized businesses, and a restaurant and community centre, said Mr Gerry Boland of Limerick Enterprise Development Partnership.

Fears that the former Krups plant, which employed 800 people before it closed late last year, would fall derelict or be sold to non-employment-generating interests led to the recent setting up of the LEDP. It is made up of private and public sector interests, including representatives from Limerick Enterprise Network, Limerick Corporation, Shannon Development Company, Limerick County Council, the Paul Partnership and IBEC's Foundation for Investment in Communities.

The LEDP, which has received charitable status from the Revenue Commissioners, is in the final stages of buying the Krups plant, said Mr Boland, and plans are well advanced for the site's new tenants. The members of LEDP have undertaken to contribute £150,000 (€190,000) each towards the purchase and operation of the venture.

The telecoms company, which will shift to the former Krups location in autumn, will take up 60,000 sq ft of the property.

Another third will be taken up by CERT, for training purposes, 25,000 sq ft will be available for small businesses, and the restaurant and community centre will take up about 3,000 sq ft.