A SIGNIFICANT rise in construction costs for the Australian War Memorial’s redevelopment led the former federal government to quietly providing an extra $50 million to the project.
Australian War Memorial Director Matt Anderson this morning (July 1) confirmed reports that the price of the revamp had jumped by $50 million, saying supply costs meant the budget needed to increase accordingly.
It’s been revealed that the War Memorial received an extra $50 million from the coalition in March this year with zero publicity.
“These significant increases in supply costs are consistent with market movement across the entire construction and development industry. It is important to note, the scope of our works has not changed,” said Mr Anderson.
“Due to the significant and unprecedented market cost variations, the former government provided $50 million in March 2022 to manage these increases. We appreciate this support greatly.”
The controversial redevelopment project was originally valued at $498 million.
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