Author (Person) | Barber, Tony |
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Series Title | Financial Times |
Series Details | 8.4.08 |
Publication Date | 08/04/2008 |
Content Type | News |
In 2004, the European Union identified 30 road, rail and sea transport schemes as priority projects for the purpose of integrating the economies of the bloc’s 27 member states, promoting their competitiveness and strengthening sustainable economic development. Now, in a report from PwC for the European Parliament, it is suggested that the projects will cost far more than first thought, making it uncertain how some financially strapped governments will find the necessary funds, according to an independent study. The report blames the €40bn ($63bn, £32bn) cost overrun on poor project management, planning difficulties, changes in project specifications, lawsuits and lack of funding. |
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Subject Categories | Mobility and Transport |
Countries / Regions | Europe |
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