ECB throws open tender process for headquarters

The European Central Bank (ECB) announced Monday that it was throwing open again the tender process for the bank's Frankfurt headquarters with the future of the prestigious project hanging in the balance, dpa reported.

The Frankfurt-based ECB was forced to admit in June that no construction company would build its new landmark headquarters for the budget that had been drawn up for it.

But the bank said it sticking to the initial 500 million euros for constructing the building, which was designed the Vienna-based architects Co op Himmelb(l)au.

Announcing the move to reopen tendering for the building, the ECB said about 15 invitations to tender would be issued during the course of next year.

The ECB said its 21-head governing council will then decide whether building the project is viable.

"At the end of 2009, on the basis of the results of the tender process, the governing council will decide whether or not to proceed with the project," the ECB said.

The ECB hopes to complete the new building at the start of 2014.