Renovation of the Chain Bridge to cost nearly EUR 75.3m
The city of Budapest’s tender for the renovation of the capital’s landmark Chain Bridge has received a favourable bid to carry out the works which could bring the cost of the project significantly lower than anticipated, the Mayor’s Office said in a statement on Thursday.
The latest bid of 26.8 billion forints (EUR 75.3m) is 8.5 billion forints lower than the next cheapest bid, the statement said.
The second lowest offer for the renovation was rejected by the municipal council for a lack of sufficient funding.
The Budapest transport centre (BKK) is in the process of evaluating the bids.
The statement also criticised the government for withholding 6 billion forints which it had earlier pledged towards financing the renovation project.
Read alsoFinal decision has been made on the renovation of Budapest Chain Bridge!
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1 Comment
Things done on the cheap often result in botched jobs, particularly in public sector procurement projects. The subsequent remedial work that is often needed then makes the lower price tender a false economy.