The budget for the project to replace the George Massey Tunnel has more than doubled to $8.5 billion.
The original price tag was $4.15 billion
The completion date for the project has also been pushed back from December 2030 to September 2031.
However, construction is still projected to start next year.
B.C.’s Minister of Transportation and Transit, Mike Farnworth, announced the news on Monday, saying that the federal government will contribute up to $3 billion in capital costs toward construction of the new toll-free, eight-lane tunnel.
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“The original estimate was done in the business case period of 2021 and obviously an estimate gets refined as you work on the design process,” Farnworth said.
“When we arrived where we are now with the price of 8.5, we consulted with both experts in terms of the design-build construction area, marine construction, validated by a third party outside of what the cost should be.”
In June, the province said it was unable to reach an agreement with its original contractor, ‘Cross Fraser Partnership,’ and separated the project into different components for local companies to bid on.
Despite a change in the procurement model, Farnworth claims construction work hasn’t slowed down and the tunnel’s design remains unchanged.
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