A consortium of Irish and European companies has been awarded the contract to provide public bike schemes in Cork, Galway and Limerick.
The cost of the initiative will be around €4.5 million and capital funding for the programme will be provided by the Department of Transport, Tourism and Sport.
The public bikes schemes, by the 'An Rothar Nua' consortium, will be known as 'Coke Zero Bikes' and will be launched to the public in the autumn.
It will be comprised of 740 bikes in total with Cork getting the most, at 320 bikes, 31 bike stations and 635 bike stands
Galway will have 205 bikes, 19 bike stations and 395 bike stands - while Limerick gets 215 bikes, 23 bike stations and 445 bike stands.
CEO of the NTA, Gerry Murphy, and CEO of An Rothar Nua Jim Moore sign the contract - witnessed by Minister Alan Kelly
Depending on the success of these schemes, the contract will allow additional schemes in other cities, such as Waterford, and other locations around the country.
The scheme will have similar or lower membership subscriptions and user fees to Dublin Bikes at scheme launch.
The National Transport Authority (NTA) says the cost of the supply and installation of the schemes in the three cities is around €4.5 million.
While the annual operational cost will be about €1.25 million per year.
Implementation will begin immediately and it is expected to be operational in five to six months.
As part of the agreement. Coca-Cola Ireland will be investing €3 million over five years in the project, supporting the operation of the bikes.
