Dublin's Metrolink has already racked up a bill of €300m despite construction still being years away.
The project was first proposed back in 2000 with planning permission for the Metro North line granted in 2011. However, the project was suspended due to the economic downturn and a new Metro North project was announced by the NTA in September 2015, with services due to commence in 2026.
Metrolink succeeded that project with services currently being projected to commence in 2034, meaning the underground tram system will be delivered 34 years after the project was first proposed.
Despite no physical construction starting, the current Metrolink and previous abandoned projects have cost a whopping €300 million. According to the Public Accounts Committee, the construction of Metrolink has been estimated to cost €9.5 billion, with the most credible capital cost ranging from €7.16 billion to €12.25 billion, although some estimates for the project allow for a cost as high as €21.5 billion.
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The Public Accounts Committee is launching its report into the financial statements of the National Transport Authority today, which will highlight the rising cost of the project and make a number of recommendations.
“The Committee is concerned at the range of estimates and expresses its wish that the cost of the project does not exceed €9.5 billion, particularly in light of other public infrastructure projects such as the National Children’s Hospital, which is projected to be completed significantly over-budget," The PAC said.
Deputy Brian Stanley, Cathaoirleach of the Public Accounts Committee, said that it is "imperative for the final cost, amongst other reasons, that Metrolink is completed on time, as it has been estimated that each year of delay would add additional costs of between €100 million and €300 million".
The Committee has requested the Department of Transport to provide it with a report on Metrolink by this September, including an updated expenditure breakdown on the project to date and the most up-to-date cost estimate, as well as an updated timeline with milestones missed or achieved.
They have also asked the NTA to provide a report within the same timeframe on lessons learned from “ineffective expenditure” to date on the Metro and Dart Interconnector projects, and provides details on "what it is doing to prevent ineffective expenditure on current and future projects".
The NTA has also been asked to provide twice-yearly updates on the BusConnects programme which has estimated expenditure of up to €3.4 billion in Dublin and €600 million in Cork.
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