CT: The reconstruction of the Industrial Palace may cost three billion

Prague - The reconstruction of the burned Industrial Palace could cost approximately three billion crowns. This amount was reached by Prague councilors who commissioned a plan for the restoration of the monument damaged by a fire in 2008. The sum, which also includes the construction of garages and an underpass to the Křižík Fountain, is expected to be covered by the city administration. The opposition considers the figure to be exaggerated, claiming that the city does not have the funds for it. This was reported today by Czech Television (ČT). The magistrate expects that construction will start this year.
    "I believe that this is a financial amount that the city can hardly afford. It's roughly equivalent to the cost of one kilometer of metro," said councilor Václav Novotný (TOP 09) to ČT. Experts also question the three-billion-crown figure. "It is possible that the price could increase by another 30 percent, which, according to what is said among construction entrepreneurs, is still quite reasonable. But let's hope it won't end up being double," said structural engineer and heritage care expert Václav Janáček.
    According to Deputy Mayor Ivan Kabický (ODS), the estimated costs for the reconstruction are 1.6 billion. The second phase is estimated at just under a billion. "But it is clearly up to the city to decide whether we will even reach this phase," Kabický told ČT. In the fall, councilors are expected to receive the construction project. "We might end up with a price of 600 million," added the deputy.
    The contract for the preparation of the project documentation was signed by the councilors last week. The firm Cigler Marani Architects a.s. will process it for 166 million. The company will prepare designs for the completion of the burned wing, the construction of the underpass under the central part, as well as proposals for the surrounding area of the building.
    Part of the funds for the construction comes from an insurance payout. The insurance companies assessed the damage at about 181 million crowns, but Prague claims it exceeds 1.2 billion crowns. Therefore, the city is suing the insurance companies.
    The Industrial Palace was built for the Jubilee Land Exhibition, which took place from May to October 1891. The Industrial Palace is listed as a cultural monument as part of the Exhibition Grounds, which has been fully protected since the 1950s.