Senate building now costs P31B --[Reported by Umva mag]

A SENATOR on Tuesday said construction costs of the new Senate building in Fort Bonifacio, Taguig City have ballooned to P31 billion from P8.6 billion, updating a previous estimate of P27 billion.

“We’re going to put up a new senate coordinating committee because there is too much red tape, too many levels,” Senator Alan Peter S. Cayetano told a news briefing. He said the rising costs were due to inflation over the years and changes in construction plans concerning the building.

Public Works Undersecretary Antonio V. Molano, Jr. earlier told senators that the cost had increased by about 20% to 25%, or P27 billion, including the cost of land.

The Department of Public Works and Highways earlier said the project has been delayed by 852 days due to rising costs and “variation orders.”

Senate President Francis “Chiz” G. Escudero earlier said the Senate would not be transferring to the Taguig building by September or anytime next year — John Victor D. Ordoñez

The following news has been carefully analyzed, curated, and compiled by Umva Mag from a diverse range of people, sources, and reputable platforms. Our editorial team strives to ensure the accuracy and reliability of the information we provide. By combining insights from multiple perspectives, we aim to offer a well-rounded and comprehensive understanding of the events and stories that shape our world. Umva Mag values transparency, accountability, and journalistic integrity, ensuring that each piece of content is delivered with the utmost professionalism.