Minister of Education Katrín Jakóbsdóttir told reporters that she wants
to see the proposed Music Hall complete construction, despite financial
hardships the project has run into.
“It’s clear that it would be more expensive to stop construction of the Music Hall now, and finish it later, than to finish it now,” she said. She added that as night work is no longer permitted on the project, it will take another two years to complete the project. Even though there is no available money to be put into the project, Jakóbsdóttir said at least one source could possibly offer a loan.
The Music Hall was one of the grand designs of the previous administration, with the aim of revitalizing Reykjavík’s east harbor, with an estimated price tag nearing 20 billion ISK. An additional 13 billion is needed to complete construction. Construction has ground to a halt since the financial crisis last October.
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