The cost to build a temporary gymnastics arena for the 2020 Olympic and Paralympic Games in Tokyo has more than doubled with Shimzu Corp winning the $190 million (20.5 billion yen) contract, according to a report.
The venue, which will accommodate 12,000 spectators, will be raised at Tokyo’s Koto Ward with construction expected to be completed by October 2019, Kyodo news agency reported.
The cost was initially slated to be $81.61 million (8.9 billion yen), as stated in the candidature file presented to the International Olympic Committee (IOC) in 2013.
The organisers cited reasons such as increase in construction prices and bolstering the earthquake-resistance system for the cost hike. The building will be used, after the Games, as an exhibition hall until 2030.
They added the initial price reflected only the construction cost, while Shimzu’s bid included design cost as well.
- Soon You Could Get Plastic Currency Notes: Find Out More
- Ranveer Singh and Vaani Kapoor Starrer Befikre Gets A Thumbs Up
- Supreme Court Seeks Centre’s Response Over Various Issues Regarding Demonetisation
- Defence Minister Manohar Parrikar Writes To West Bengal CM Mamata Banerjee
- Bigg Boss 10 December 8 Review: Swami Om Feels Cheated, lashes Out At Gaurav For Jail Punishment
- South Korean President Park Geun-Hye Impeached Over Corruption Scandal
- Former Air Chief SP Tyagi Arrested In VVIP Chopper Scam
- After Congress Vice President Rahul Gandhi, Liquor Baron Vijay Mallya’s Twitter Account Hacked
- Find Out What PM Narendra Modi Told Cabinet Over Demonetisation Decision
- Home Minister Rajnath Singh Assures Safety Of All Tourists Stranded On Havelock Island
- Government To Waive Service Tax On Debit, Credit Card Transactions Of Up To Rs 2,000
- President Pranab Mukherjee Criticises Parliament Disruptions Over Demonetisation
- Pakistan International Airlines Flight Carrying Over 40 Passenger On Board Crashes
- Shah Rukh Khan On Raees Clash With Kaabil: It’s Impossible To Have A Solo Release In India
- US-President Elect Donald Trump Named TIME’s Person Of The Year 2016
The Tokyo Olympic and Paralympic organizing committee and the Tokyo metropolitan government will soon meet to talk about ratio of sharing expense.
IOC President Thomas Bach met Tokyo Governor Yuriko Koike in October and had proposed a committee to look into ways to cut cost after the overall estimates were found to be “very large”.
Venues for rowing/canoe sprint, swimming and volleyball have come under the scanner as part of cost-cutting measures.