Sweeney's Blackberry Properties has been granted planning permission for the hospital and began enabling works on the site last week.

Blackberry is in negotiations with several potential operators, including US company Gemini, which has plans to operate up to four private hospitals in Ireland.

"At the minute we're talking to a number of operators.

We want a world-class operator, " Sweeney said. Construction will begin once the firm can agree terms with an operator, he said. "We hope to have construction finished by the end of 2007."

Blackberry, which has put 3.5m into project to date, has appointed accountants Horwath Bastow Charleton to seek investors. Sweeney said he did not foresee problems raising the 60m needed to build the facility, which qualifies for capital allowances. "The funding of it is not an issue, " he said.

Plans for the Blackberry Medical Facility indicate that the hospital, on a site near Limerick Regional Hospital in Dooradoyle, will include 95 beds, six operating theatres and a physiotherapy centre.