The transport ministry on Wednesday announced that the cost for the construction of the new parliament building and the archaeological park nearby will reach €95 million.
The estimated amount covers all studies and project supervision, the construction of the new building and the archaeology park and maintenance for 10 years.
The ministry said it announced a tender competition on January 17 for the construction of the new parliament building and the archaeological park with the deadline set for May 13.
The whole project should be completed within 54 months from the day the contractor is assigned the job.
Following years of debate, it was decided that the new parliament building would be sited at Ayios Georgios hill, better known as Pasydy hill in the centre of Nicosia. The decision to construct the new building there also took into consideration the antiquities discovered at the site which will be protected.