Construction of the National Children's Hospital has been delayed by two months and there is no final cost for the project.

Representatives from the National Paediatric Hospital Development Board appeared before the Public Accounts Committee (PAC) this morning to give an update on the plans.

The board's chairman Fred Barry said that costs are likely to exceed the guaranteed maximum price due to reasons including inflation and design changes.

The current cost of the entire project is €1.73 billion.

The maximum guaranteed price is €1.4 billion, but Chairman Fred Barry in reply to Sinn Féin TD Imelda Munster couldn't provide a final cost figure.

He said: "We can't say exactly where it is going to end up.

"The final cost will be the guaranteed max plus whatever residual risks."

Mr Barry told the committee that increasing costs could be due to design changes, inflation, regulations and construction claims.

If current inflation rates stay the same, it would add an extra €50 million to the price.

He insisted the board will 'resist' claims made by contractors, but that "it would be a surprise if some of those claims don't stick before the job is over".

However, he also suggested they remain within the budget set for them last year.

Mr Barry said that building has been delayed by two months and that there is no clear plan in place as to how to get it back on track.

He did offer a construction update, saying the "first window has actually been installed in the hospital" and that construction on underground facilities - including a carpark - was nearing completion.

In a statement following this morning's meeting, Deputy Imelda Munster said: “The confirmation today that the project could encounter further overruns should come as no surprise.

“It’s clear that we need more transparency and greater accountability when it comes to this project.