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The Guardian - AU
The Guardian - AU
National
Peter Hannam

$5.9bn and rising: Snowy 2.0 wrestles with delays and budget blowouts

The Tantangara Dam Snowy 2.0 site in the Snowy Mountains
Snowy 2.0 is lumbering taxpayers with a bottomless pit of costs and risks, opponents say. Photograph: Mike Bowers/The Guardian

On a wintry afternoon in the Snowy Mountains town of Cooma a month ago, about a dozen officials from Snowy Hydro, its Future Generation partners and unions huddled in a meeting room to take stock of the much-delayed Snowy 2.0 project.

Of primary concern was the status of giant tunnel boring machine number three, dubbed Florence by Snowy, that had been stuck in soft rock for almost half a year after barely drilling more than its 140-odd-metre length. A large sinkhole had also opened up, reaching the surface.

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