With this settlement, all parties end the ongoing litigation surrounding the construction of the Port House. This brings the total cost of the new Port House to around EUR 64 million.
The Port Authority had already approved about EUR 5 million in additional costs since work started. This brought the total cost to 55 million euros. However, there were still several disputes between the client and the contractors concerning a number of additional works and technical aspects. With the approval of the additional additional cost of €9 million, the contractors involved will be compensated for attributable additional work. All parties now commit to stop all legal proceedings. The outstanding claims will lapse. This brings the total additional price for the construction of the Port House to 27% above the original cost of 49.9 million euros.
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