The budget blow-out was revealed today in the Assembly in two documents that show the estimated total cost of the project was $363.3 million, and after the recent heavy rain event blew out to $396.8 million.

Mr Sullivan told media today that the blow out won’t have a lot of impact on ACTEW’s bottom line.

Currently the project is about 80 per cent complete and, despite the cost blow-out, there have been savings from other parts of the project including $15 million for the Murrumbidgee Googong water transfer and $7 million for the Googong spillway and Cotter pumping project.

However, until all assessments are made, including assessments for the projects insurance, there won’t be clear indication of the dam’s final total cost outcome.

Mr Sullivan says he’s hopeful those assessments will be made in the next few weeks.

“When the event occurred, we were reasonably pessimistic about it, we were thinking it would be August before we were back working,” he said.

“I think now we are looking certainly this financial year and I am hoping to seek improvement on that.

“Until we get some assessments done, we have to make the site safe, again we’ve been reminded in Canberra about safe construction sites and the site that’s been through what this dam has been through needs a lot of work to make it safe and that’s top priority.”