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Stormont First Minister Peter Robinson on Tuesday unveiled a road and hospital building programme for Northern Ireland that is worth over £500 million.

Ministers have said the region’s struggling construction industry can now look forward to seeing around 3,000 new jobs being created. Executive leaders said the move proved that they are doing their utmost to confront the economic slump.

The new infrastructure projects are expected to be completed over the next four years and are estimated to cost some £584 million. Industry stakeholders have hailed the Irish government’s announcement.

The funds are to go towards refurbishing three main roadways and construction work at three hospitals. The money has been diverted from the proposed A5 cross-border dual carriageway project that stalled following the Irish government suspending its funding support.

Londonderry’s Altnagelvin hospital is to get construction funds from the £90 million set aside for hospital infrastructure. Dundonald’s Ulster Hospital will also receive funds for promoting its accident and emergency facilities, while the remaining will go for accelerating work on the upcoming hospital in Omagh.

Meanwhile, the A2 road stretch between Belfast and Carrickfergus will be upgraded at a cost of £57 million, and the A8 from Larne to Belfast will receive £105 million for a facelift.

Robinson noted, "As a result of the decisions reached this morning, these projects will create or sustain over 2,500 jobs on the roads and approximately 500 jobs on hospital spend for Northern Ireland's hard-pressed construction industry; further improve our roads infrastructure; and significantly upgrade our healthcare infrastructure in Belfast, Omagh and Londonderry.”

He said Tuesday has been an important day for the Executive, who has been working in unison to address the economic slowdown and pull out industries across the board from sinking deeper into stagnation.