The torturous legal case regarding the stalled Blanka Tunnel project in the Czech Republic has taken one step forward. An arbitration court in the country has ruled that the tunnel has to be completed within five months' time. The construction work was halted earlier due to a dispute between the contractor and the city authorities. The tunnel is required to help reduce traffic congestion in the Czech capital Prague with work having commenced in 2007. The project was originally supposed to be ready for traffic by 2011 but costs spiralled and this was one of several factors along with allegations of performance targets not having been met that gave rise to the current complex court cases. This latest judgement calls for the city of Prague to pay some €145.64 million to the construction firm Metrostav. However the firm is seeking an additional €36.4 million from the city, which will be handled in court in June 2014.
Legal step for Czech tunnel project
The torturous legal case regarding the stalled Blanka Tunnel project in the Czech Republic has taken one step forward. An arbitration court in the country has ruled that the tunnel has to be completed within five months' time. The construction work was halted earlier due to a dispute between the contractor and the city authorities. The tunnel is required to help reduce traffic congestion in the Czech capital Prague with work having commenced in 2007. The project was originally supposed to be ready for traff
Finance & Funding / April 23, 2014