Tokyo looks to slash US$1.7b off bill for 2020 Olympics
It may scrap or scale back plans to build new facilities amid fears of spiralling costs
Tokyo
TOKYO is looking to slash the price tag for the 2020 Summer Olympics by US$1.7 billion through scrapping or scaling back plans to build new facilities amid fears over spiralling costs. Recent estimates put the bill for the venues, including the construction of 10 new facilities, at 450 billion yen (S$5 billion) - three times the initial estimate - triggering renewed belt-tightening measures and even calls to use existing venues as far away as Osaka.
"We reviewed our facility plans after the expense swelled due to unexpected additional construction works and surging costs of construction in general," Katsura Enyo, senior official at the Tokyo metropolitan government's 2020 Games planning division, told AFP on Thursday.
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