Increasing commodity prices add to Silver Line extension costs

The Metropolitan Washington Airport Authority is having to pay an extra $20 million to cover the higher cost of materials needed to build the extension of Metro’s Silver Line.

The second phase of the project, which would extend the Silver Line to Dulles International Airport and Loudoun County, will cost $2.778 billion to complete. So far, the construction’s progress has eaten up $2.464 billion, but the airports authority maintains the budget won’t change, thanks to contingency funds. 

But in June, an increase of commodity prices added another $20 million to the total cost, according to MWAA’s budget report presented to the board’s finance committee in a Wednesday meeting. An agency spokesperson did not immediately respond to a question about which materials were subject to increased prices. 

Prices for commodities like steel, concrete and gas can be volatile, particularly given the coronavirus pandemic’s strain on the supply chain, but other contributing factors can be trade…

Read the full story from the Washington Business Journal.

This content was republished with permission from CNN.

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