Yettinahole project cost nearly doubles

Yettinahole project cost nearly doubles

Mangalore Today News Network

Bengaluru, Jan 27, 2020: A series of changes in government policies and additions midway are expected to escalate the Yettinahole drinking project cost by over Rs. 12,000 crore, taking it to about Rs. 25,000 crore, up from nearly Rs. 13,000 crore when it received administrative approval in 2014.

 

The Yettinahole project was first approved for Rs. 8,323 crore in 2012, and it escalated to Rs. 12,912 crore in 2014, when the project commenced on the revised cost. While officials now involved in revising costs confirmed the escalated cost to be upwards of Rs. 21,000 crore, an internal document with break-up of escalations shows it could be about Rs. 25,000 crore.

The report on the escalation is likely to reach the government in two weeks. Sources said if the earlier cost was worked out on the prevailing Schedule of Rates in 2012-13, the revision was based on the Schedule of Rates of 2018-19.

Courtesy:The hindu