Demands from contractors working on the the National Broadband network will see the project’s cost blow out by $5 billion, according to the AFR.
The newspaper’s website this afternoon reported NBN Co chief operating officer Ralph Steffens briefed senior executives yesterday.
This comes after a number of contractors working on the project went to NBN Co for more money.
“Ralph said there was a $5 billion hole in the construction costs,” a unnamed source cited by the newspaper claimed. “He also said the good news was they’d discovered that by re-engineering and re-designing the network they could save that and more.”
NBN Co chief executive Mike Quigley is yet to comment.
Business Insider Emails & Alerts
Site highlights each day to your inbox.