The cost of completing two ferries at state-owned Ferguson Marine shipyard is set to top construction costs for the Scottish Parliament.
The project to build Holyrood 20 years ago sparked the first major scandal of the devolved era when the price rocketed by more than £300million. The iconic building was completed three years late with an ultimate price tag of £419million.
Government sources have said the price of delivering two CalMac ferries through the nationalised Ferguson Marine shipyard is now likely to top that figure.
A source said: “The bill for the ferries will rise to over £300million and there has been well over £100million of public money ploughed into the Ferguson yard to keep it afloat.”
It was reported last month that government budget statements revealed the bill for Ferguson Marine had soared to more than £450million.
Scottish Conservative shadow transport minister Graham Simpson said: “The ferries scandal is now the most expensive project in the history of devolution. This is the outstanding example – among far too many – of the SNP’s total disregard for ensuring public money is properly spent. But even more damning is the fact that the ferries are not even running yet.”
Billionaire Jim McColl bought the Ferguson business in 2014 after it plunged into administration. The firm was awarded a Scottish Government contract to build two ferries to serve island communities.
But his firm’s involvement with the shipyard ceased in August 2019 when it collapsed into administration and was then nationalised.
In 2021, we revealed the Government was paying a “turnaround director” more than £790,000 a year to run the shipyard.
It emerged last week that Ferguson Marine faces a strike-off notice as it has failed to lodge its accounts on time.
The Scottish Government said: “These claims are wrong. The chief executive of Ferguson Marine Port Glasgow expects the cost to complete both vessels to be £277million.”
But, when asked how much the bailout had added to costs, a spokesman said: “Since nationalisation, the cost to complete vessels 801 and 802 is estimated to be £202.6million including contingency.”
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