Dunedin stadium construction $8m over budget - review

Dunedin Venues Management Ltd recorded a $1.9 million loss for the first six months of 2011. Photo / Supplied
Dunedin Venues Management Ltd recorded a $1.9 million loss for the first six months of 2011. Photo / Supplied

An independent review has revealed the construction of Dunedin's Forsyth Barr Stadium was more than $8 million over budget.

PricewaterhouseCoopers were asked conduct an independent review in February, they've found the stadium's capital cost had risen from $198 million to $206.4 million.

The cost blowout includes an extra million for the city council's share of the adjacent University Plaza, plus an extra $3.7 million for the catering fit-out.

Interest of $18 million puts the final cost at $224 million, with the $8.4 million overspend exceeding the budget by 4.2 percent.

The results come just days after it was revealed the Stadium posted a loss of $1.9 million in its first 6 months.

- Newstalk ZB

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