UPDATED – September 14, 2006
Barbados National Housing Corporation – Crooks or Just Idiots?
“AN ARBITRATOR has awarded a construction company BDS$34,490,518 in a case against Government.
In fact, Government may have to pay as much as near $50 million after interest is added to that sum.
The case involves Barrack Construction Company Limited, the original (main) construction company in the problem-plagued new office complex in Warrens, St Michael, and National Housing Corporation (NHC)…..”
… article continues at The Nation News (link here).
Famous “Barbados Cost-Overrun” Only 361% For This Project!
Of course, according to The Nation Newspaper, the project isn’t yet finished. So don’t worry folks, we may yet hit the nominal 400% cost overrun calculation that seems to be standard when government and the NHC build anything – whether an office building or a beach washroom. Again from The Nation Newspaper…
“…The The five-storey office complex project began in 1998 with a 90-week construction deadline and a price tag of $36,334,793, but has run for eight years and is still to be fully completed.
The project started with an original $36 million, but costs have skyrocketed to over $80 million.”
Who Is Responsible For This “Special” Mess?
No wonder the Prime Minister took the National Housing Corporation away from Elizabeth Thompson – the Government Minister who had responsibility for the NHC during most of this debacle.
Hey, the new office complex is only six years late and 361% over budget – but what’s an extra hundred million dollars between friends? Good management costs money, but as the pummelled taxpayers of Barbados are discovering, bad management costs even more!