Snowy Hydro 2.0 flags another cost blowout with $12bn price tag now considered unachievable
by Tom McIlroy Political editor from on (#70G1M)
Pumped hydro project in Kosciuszko national park is 67% complete, but supply chain cost increases and issues with a borer have caused cost overrun
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Snowy Hydro is preparing for another significant cost overrun on the massive Snowy 2.0 project in the Kosciuszko national park, with a line-by-line reassessment ordered from contractors on Friday.
The giant pumped hydro project, first touted by the Turnbull government in 2017 as costing $2bn, was later revised to a cost of $5.9bn. Escalating to almost $13bn in 2023, construction is due to be completed by the end of 2028.
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