Earlier quoted context omitted.
The MTA's Second Avenue line in New York comes out to more than AU$2Bn per km, on my reckoning (US$2.6Bn/mile). It's the current world champion for expensive holes. The fact is that megaprojects basically never come in anywhere near their schedule or budget. That's because of a selection bias. When you crunch the numbers honestly, megaprojects come out as a terrible on a cost-benefit or ROI analysis. The ones that ge…
But it's just a subway tunnel, which have been built in cities since the 19th century. Is it really so much harder to do such "megaprojects" in the 21st century, with the vastly better equipment now available?
https://en.wikipedia.org/wiki/Second_Avenue_Subway#Construct...