Beijing Olympics funding exceeds $43 bn

August 4th, 2008 - 8:40 pm ICT by IANS  

RIA Novosti
Beijing, Aug 4 (RIA Novosti) Total investment in the 2008 Beijing Olympics has hit 295 billion yuan ($43.13 billion) since 2001, a city administration spokesman said Monday. Shanghai Daily quoted Liu Zhi as saying at a news conference that the figure, which comprises the Games’ operational fund, venue construction costs and infrastructure investment, could be adjusted when the 16-day event finishes Aug 24.

The official said Beijing had spent a total of 280 billion yuan (some $40.9 billion) between 2001 and 2007 on infrastructure, energy, transportation and water supply projects. All these projects had been completed two years ahead of schedule due to the Olympics.

Liu said allocations for Olympic venue construction would be around 13 billion yuan and would include funds for building new stadiums and renovation.

The operational fund budget, which was initially set at 1.63 billion yuan, changed three times to the current two billion yuan, due to currency fluctuations and inclusion of additional tasks, Liu added.

Around 160,000 people, including guests, VIPs, athletes and performers, are expected to attend Friday’s opening ceremony, said Zhou Zhengyu, deputy director of the Beijing Municipal Committee of Communications.

They will take chartered buses to and from the National Stadium, he added.

Beijing has more than 900 contingency plans to ensure security of nearly 100 foreign leaders who will attend the opening ceremony.

The Beijing Subway Company last week said it had tightened security ahead of the Olympics, and urged passengers to avoid carrying luggage while travelling underground.
RIA Novosti

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