Chief executive of the publicly-quoted firm, Steve Corcoran, told the Sunday Tribune that he expects the company will employ the people at up to 20 sites across the Republic.

Last week Speedy Hire reported a more than 28% rise in six-month interim revenues to £154.4m and a 19% increase in pre-tax profits to £15.5m.

The company employs 3,800 people at more than 300 sites across the UK. It currently has a market capitalisation of almost £500m.

Stricter safety laws have prompted construction companies to opt for long-term rentals to avoid buying new equipment, bolstering earnings at Speedy. It currently has just one site in Dublin which Corcoran said is already insufficient in size. He added that site opportunities are being explored in the Blanchardstown area of the capital.

Corcoran said that while the Irish market is competitive, he believes the number of projects coming on line under the National Development Plan afford "ample scope" to Speedy Hire to establish a strong presence.

"I don't think we've scratched anybody yet, " said Corcoran, referring to Speedy Hire's level of penetration to date in Ireland. One of Speedy Hire's main competitors . . . HSS Hire . . . already has a number of outlets in the Republic.

Corcoran added that the roll-out of the new depots should accelerate in the near-term as the company appoints a dedicated Ireland management team. The firm is already scouting for a managing director for its Irish operations.