Wednesday, May 18, 2011

Brazil WC 2014: Maracana Estimated Cost Doubles

This is a 'guess what' and 'told you so'. The cost of fixing the Maracana stadium for WC 2014 in Brazil has snow doubled, adding to the already chaotic organization of that cup.

The new cost  is forecasted iat R $ 956,787,720.00 (about USD $600M). In January 2010, the reform would was estimated to cost R$ 600 million. The value then jumped to $ 705 million, before reaching the current figure of almost $ 1 billion with the construction of a new roof.

And geuss what, as time goes on, further costs will appear, not only in this statdium, but everywhere else. And the bigger the delays, the bigger the costs will be. Somebody must be happy with the delays.

In a presentation held on Tuesday the technical and ministers of the TCU and the Comptroller General (CGU), Rio de Janeiro state government officials scrutinized the executive design of the stadium, which now goes to technical analysis.

"We will examine the project with very critical eye and point of view. At first glance, I think it is within what the law allows, " said Minister Valmir Campelo, Rapporteur of the World 2014 project at TCU. A team from the court must evaluate the project's Maracana within a period of 45 days. According to Campbell, the agency has been as flexible as possible, not to create obstacles.

"We want for Brazil not only to be champion in the field, but also on transparency, morality and the zeal of the public good, ". Ah huh.

MaracanĂ£ is the most expensive piece of the 12 stadiums that serve as the venue for the World Cup games - $ 400 million funding will come from Banco Nacional de Desenvolvimento Economico e Social (BNDES) and R $ 556.8 million from the government of Rio de Janeiro. The deputy governor and secretary of works in Rio, Luiz Fernando Bigfoot, attended the presentation and said the renovation will not exceed the ceiling announced.

Shall we see?

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