€14 million for builders as compensation for increase in the price of iron and cement

COMMENTS

SHARE THIS
ARTICLE

Text sizeAa Aa

Builders of public works will receive €14 million euros as subsidies from the government. The amount will be allocated to compensate for the expenses that have arisen from the increase in the price of construction materials.

After March, public contract bills became more expensive, as iron, cement, bitumen, plastic pipes, aluminum, copper and zinc rose sharply.

According to the listing, there are 300 companies working on roads, schools, and other public works, which received tenders after January 2020 and will be compensated for not leaving the works they had already started in the middle.

Builders will be compensated with 5 to 30% of the value of building materials which have increased up to 70% this year.

The decision to pay the builders has been faced with debates earlier this year, as several MPs said that companies that have suffered delays in works should not benefit from this scheme, which forced the finance ministry to compile a list of all companies.

Tags

YOU MAY ALSO LIKE

spot_imgspot_img
spot_img

SUBSCRIBE TO OUR NEWSLETTER