Students to Face Even Higher Interest Rate Charges After RPI Increase
20th Apr 2018
Ulster University hasn't been able to provide a time-frame for when the new £250 million Belfast campus will be built, after work on the project stopped in February.
Lagan Construction Group and Portuguese-based Somague are joint-venture partners on phase 2 of the project, a £150m development of two new blocks on York Street.
However, reports have now emerged that the campus might not open until 2022. The delay is a result of workers on the project downing tools, after Lagan Construction ran into financial difficulties.
KPMG has now been appointed as administrators to four companies within Lagan, with insolvency experts in talks with potential funders and Somague over how the development can be finished.
One option is to find another partner to work on the project alongside Somague, after reports suggested the company wouldn't be able to complete the project on its own.
Ulster University hasn't been able to provide any update on progress, citing that the university continues to consult with Somague to ensure its delivery.
The construction contract has already been the subject of legal proceedings, with the university claiming work was not carried out in accordance with the contract.
Once complete, most courses will be transferred from Jordanstown to Belfast, with student numbers expected to swell in the city from 2,000 to 15,000.
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