Two bids for Westfjords road project exceed estimate

Both bids for construction on the Westfjords Road were well above the estimated cost, mbl.is reported. The Icelandic Road and Coastal Administration is reviewing the offers and considering next steps, its spokesman G. Pétur Matthíasson said.

Matthíasson said it was too early to say whether the bids would be rejected.

The project involves building a 4.6-kilometre section of the road across Djúpafjörður and Gufufjörður. It includes a 210-metre net arch bridge over Djúpafjörður.

ÞG verktakar, based in Reykjavík, offered to complete the work for 3,888,451,476 Icelandic krónur. That is 60 per cent, or more than 1.4 billion krónur, above the estimated cost of 2,431,870,289 krónur.

Ístak hf., based in Mosfellsbær, submitted a bid of 5,992,459,407 krónur, 146 per cent above the estimate. The project is due to be completed by October 1, 2028.