OFFICIALS of the West African Gas Pipeline Co (WAPCO) have said that the initial cost of the project had risen sharply in view of the rising cost of equipment as a results of the recent hikes in crude oil prices.
The three months delay in completing the project would result in about 10% marginal cost in the original figure of $500 million, said WAPCO's Managing Director Jack Derickson after a stakeholders' forum in Accra. He said the major works left were the construction of the compressors at the Lagos end of the project and issues bordering on research and monitoring.
Other main items for completion are the civil works at Alagbado and Lagos Beach compressor stations, completion of mainline welding, and burial and commissioning of tie-ins.
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