NATO Builds a Pricey New Home, Complete With Cost Overruns
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Even as North Atlantic Treaty Organization members pare their defense spending, the cost of building a high-tech new headquarters for NATO in Brussels keeps spiraling upward.
Germany’s Spiegel magazine reported today that a construction consortium led by Royal BAM Group of the Netherlands is seeking a 9-month extension and an additional €245 million ($332 million) to complete the project. That would bring its total cost to about €1.3 billion, almost three times the €460 million contract awarded in 2010 to replace NATO’s Cold War-era headquarters with a soaring glass-and-steel structure to house some 4,000 staff.