JP McManus, John Magnier and Aga Khan just some of the names investing in the new Curragh Racecourse

The Aga Khan, JP McManus and John Magnier are just some names involved in the  new company established to redevelop, own and operate the Curragh Racecourse.

The €65m project includes plans for a new grandstand and parade ring.

Curragh Racecourse Limited will be chaired by Eir chairman and former ESB chief executive Padraig McManus.

The project aims to see the new racecourse open in 2018, with racing intended to continue until then.

The Turf Club, Horse Racing Ireland and the group of private investors will each own a third of the shares in the new company.

Other private investors include Eva-Marie Butcher Haefner, daughter of  the late Walter Haefner, a billionaire horse breeder.