New ECB building in Frankfurt goes over budget

New ECB towers under construction, 20 Sep 12 The new HQ includes a conference area and visitors' centre

Related Stories

The budget for the European Central Bank's massive new headquarters in Frankfurt, western Germany, has risen above 1bn euros (£800m; $1.3bn).

The ECB announced the cost overrun at a ceremony on Thursday marking completion of the main structural works.

The original plan budgeted the project at 850m euros. But the ECB says costlier materials and unexpected site problems have inflated that figure.

The ECB's move is scheduled for 2014. The bank manages eurozone finances.

Currently it is housed in the Eurotower skyscraper in central Frankfurt.

The new twin-tower skyscraper is at Grossmarkthalle - site of Frankfurt's former wholesale market hall.

The building was designed by architects Coop Himmelb(l)au, who won the tender in 2005.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Europe stories

RSS

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.