Quantcast
  

Friday, December 19, 2014         

OUR VIEW


TO ACCESS SUBSCRIBER CONTENT:
Current Print Subscribers
ACTIVATE account
- OR -
LOGIN or SUBSCRIBE
for full digital access

Rail overbids force reappraisal


POSTED: 01:30 a.m. HST, Aug 20, 2014

~~<p>This wasn't just sticker shock. Three bids were opened last week for a large contract to build nine of the 20 stations being planned as part of the city's elevated rail project, and even the lowest bid &mdash; $294.5 million, from Nan Inc. &mdash; came in 60 percent higher than anticipated.</p>
<p>This raises alarm bells, not merely that costs are rising in an accelerating construction market but real fears that they're doing so at a pace that will burn through even the generous contingency fund set aside for such overruns.</p>
~~

This wasn't just sticker shock. Three bids were opened last week for a large contract to build nine of the 20 stations being planned as part of the city's elevated rail project, and even the lowest bid — $294.5 million, from Nan Inc. — came in 60 percent higher than anticipated.

This raises alarm bells, not merely that costs are rising in an accelerating construction market but real fears that they're doing so at a pace that will burn through even the generous contingency fund set aside for such overruns. Login for more...



Login or sign up below for the complete story

Print Subscribers
ACTIVATION
Current print subscribers, activate your premium content account for unlimited online access & commenting
New Subscribers
Find subscription offers in your area and choose the package that suits your reading preferences.

14-DAY PASS
14 day premium online access and commenting ability on StarAdvertiser.com