Senate building cost rises to P25B
THE DEPARTMENT Public Works and Highways (DPWH) on Wednesday said construction costs of the new Senate building in Fort Bonifacio, Taguig City have ballooned to at least P25 billion from P8.6 billion, updating its earlier estimate of P23 billion.
“It would reach about P25 billion to P27 billion including the cost of land,” Public Works Undersecretary Antonio V. Molano, Jr. told a Senate committee on accounts hearing.
“To my estimate from the time the project was bid out, it has increased by more or less 20% to 25%,” he said.
Senator Alan Peter S. Cayetano asked the agency to consider inflation in its review of the costs, which he said have jacked up the construction costs of other government projects. — John Victor D. Ordoñez