Transport Infrastructure Minister Danny Pearson announced the state had reached a deal with the project’s builders to cover ballooning construction costs.
Transport Infrastructure Minister Danny Pearson said on Thursday that the state had reached a deal with the project’s builders to cover ballooning construction costs.Victorian taxpayers will cover $837 million while the Cross Yarra Partnerships consortium will cover a similar amount. The increase brings the total cost of the project to the state to $13.84 billion.
“What we’ve seen across the world is that there’s been that pressure on projects,” he said. “We’ve seen a 22 per cent increase in building and material and labor costs since 2021. It is just costing more to build anything, anywhere in the world.”, revealing construction delays, potential compensation claims and plans to dump elements of the project to cut ballooning costs.That document warned that two new rail stations, State Library and Town Hall, were behind schedule.
Planners have warned since 2015 about the challenge in managing the interference created from trains regarding sensitive magnetic resonance machines.
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