Estimated cost of new Cyprus Archaeological Museum has surged since 2017 announcement

Construction costs for the island’s new archaeological museum have skyrocketed, with the minimum bid currently at €120.9 million, excluding VAT, which raises the budget to €143.9 million.

This was reported by Philenews on Thursday, adding that the second lowest bid now stands at €178.2 million.

And when the then Minister of Communications and Works, Marios Demetriades, who announced the ambitious project in 2017, estimated its cost at around €50 million. .

Yannis Carusos, the incumbent Minister of Transport, revealed that the construction cost situation is now different, announcing last year that the cost would be around 102 million euros depending on the winning tender. did.

The issue then goes before the Public Works Department’s Bid Review Board.

He also revealed that value-added tax should be added to €102 million to raise it to €121.3 million.