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Getty ImagesConstruction on the CBD Light Rail Transit from Sydney to Randwick.
The cost of disturbances caused by the Sydney light rail project on retailers was first revealed in Supreme Court documents by a company that sued the government for $ 4 million on the project delayed by $ 2.1 billion. The Four Seasons resort on George Street says its profits have dropped by more than half to $ 1.3 million in 2016-17, down from $ 3 million the previous year. 19659003]. near Circular Quay in March 2016 and was scheduled for completion in April of this year. The project is now at least a year late and will not be completed until March 2020 at the earliest.
Watches of Switzerland is the first retailer to sue the government and Transport for NSW on the 12-kilometer project. Other small businesses are considering a clbad action lawsuit against the conflict-ridden project, which is suffering from budget eruptions, delays and multiple litigation.
The Spanish subcontractor Acciona is suing the government for more than $ 1 billion in compensation for "misleading". The Watches of Switzerland report filed with the Supreme Court of New South Wales states that the company has "suffered and will continue to suffer substantial losses and damages" from the project and the NSW constitutes a "public nuisance and unreasonable interference," reports Fairfax
Transport for NSW plans to defend the lawsuit.
Retailers were offered rent badistance by the government during the construction phase, but several companies shut down, accusing the tramway project of a loss of customers and a fall spectacular income.
A in the project by NS W The Auditor General found that because Transport for NSW was anticipating that the project would reach the 2014 deadline to begin work, "a tight deadline meant an inadequate business case, poor governance at the planning stage and an uncertain margin during the bidding process ". 19659002] The SMH has more about the latest dispute over light rail.
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