A company behind several major construction projects has gone into voluntary administration just weeks after completing a key project on the Sydney Fish Markets. 

Sharvain Facades engineered the striking facade on the University of Technology Sydney’s Chau Chak Wing building and the cladding on Circular Quay’s Quay Quarter Tower. 

The company designed the new Sydney Fish Market’s 200m ‘wave’ roof, with the last tile laid in February. 

An administrator was appointed to the company on March 4, and creditors first met last Friday.

Managing director Boris Kostura said the company suffered when the Sydney Fish Market’s project timeline was extended. 

In the time, his material and labour costs rose rapidly, some nearly doubling. 

Mr Kostura said his company ‘hung in’. 

‘The perimeters, program and prices have changed far beyond what could have been anticipated,’ Mr Kostura told the Sydney Morning Herald.

‘We hung in for a very long time. It was simply not possible to complete such a complex project for the original budget.’ 

The company received a $16million loan from Multiplex to complete the project in October. 

Mr Kostura said he regretted taking the loan. 

‘Our intention was not to be a roadblock, but rather to be part of the solution,’ he added. 

It comes as other subcontractors to Multiplex’s Fish Market project have struggled to to keep up with rising costs since work began in 2021. 

Timeline blowouts have been attributed to ongoing rows regarding the design of the building.

Fish merchants in the existing building have said the new building would not suit their requirements, causing changes to the scope of the project.

Sydney Fish Market’s 38 tenants are worried the new building will not have enough power to meet their refrigeration needs.

They have warned that the building may need to resort to diesel generators over the Christmas period, causing disturbance to its neighbours and breaching environmental standards.

They are also concerned about the logistics of transporting stock between the building’s two levels.

They are still reportedly refusing to sign new leases, which could cause additional delays to the $836million project.

Multiplex said it would welcome government support for struggling subcontractors.

At least three other subcontractors have reportedly incurred losses of $1million, $6million and $7million over the course of the project.