It’s been revealed the cost of building the Gold Coast’s Coomera Connector will blow out by a massive $600 million.
The original cost of the first stage of the Second M1, which will stretch all the way from Nerang to Logan, was estimated to be $1.5 billion.
However, it has now been confirmed that the cost has skyrocketed to $2.1 billion.
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The State Government has blamed the recent construction boom that’s been driven by the pandemic for the price hike.
But the State Opposition has slammed the cost blowout, saying there’s only one person to blame.
“Mark Bailey’s inability to manage major infrastructure projects has now cost the Gold Coast nearly a $1 billion,” Shadow Minister for Transport and Main Roads Steve Minnikin said.
“$1 billion could have funded a brand new hospital for the Gold Coast.”
As a result, the State and Federal Governments will now have to cough up millions more in funding to get the long-awaited second M1 up and running.
According to Newscorp, the State has committed an extra $316 million in funding and has now written to the Federal Government asking if they will dip into their pocket for the other half.
Despite the cost blowout, construction of the first stage of the Coomera Connector is still scheduled to begin early next year, with a 2024 completion date.