SS Rotterdam’s high cost renovation due to errors

6th November 2008, Comments 0 comments

The housing corporation which renovated passenger ship SS Rotterdam had based its project on overly-optimistic cost scenarios.

6 November 2008

THE NETHERLANDS - A leak of confidential documents shows that the housing corporation Woonbron made serious errors in its renovation of the passenger ship SS Rotterdam.

Apparently the corporation incurred major debts by basing the project on over-optimistic cost scenarios. In the space of three years, the cost of renovation increased from an estimated EUR 6 million to nearly EUR 200 million.

Members of parliament say Housing Minister Ella Vogelaar waited too long before intervening in the affairs of the ailing corporation. The Socialist Party is submitting a motion of no-confidence today.
[Radio Netherlands / Expatica]

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