The Department of Public Works and Highways (DPWH) has announced that the cost of the new Senate building in Fort Bonifacio, Taguig, could soar to P27 billion.
DPWH Assistant Secretary Antonio Molano Jr. disclosed this during a Senate hearing on the project, stating, "The cost could reach P20 to P27 billion, including the cost of land and inflationary adjustments."
Cost Breakdown
Senator Alan Peter Cayetano, chair of the Committee on Government Corporations and Public Enterprises, provided a detailed breakdown of the construction costs:
- Phase I (Core and Shell): P8.9 billion
- Phase II (Fit-Out): P2.5 billion
- Cost of Land: P1.7 billion
- Phase III (Completion Works): P10.33 billion
Molano added that inflationary costs are estimated to be between 20% and 25%.
Cost Increase Concerns
Senate President Francis "Chiz" Escudero highlighted that the current construction cost stands at P23 billion, almost triple the initial budget of P9 billion. Additionally, Senator Cayetano raised concerns about the budget for the building's facade.
DPWH project manager Liv Ivory Lindsay Lancion explained that due to value engineering, the agency opted for a P498 million facade instead of the initially proposed P1.031 billion. However, other associated costs increased the facade budget to P936 million.
Before adjourning the hearing, Cayetano requested the DPWH to compute the proposed total cost for the new Senate building.
No comments:
Post a Comment