Projected cost of London 2012 rises slightly
The projected final cost of construction for the 2012 London Olympics has risen slightly. The British government said Monday the anticipated cost went up by seven million pounds (C$12.3 million) to 7.241 billion (C$12.713 billion) during the last quarter, an increase of less than 0.1 per cent. Among other things, the rise was due to predicted higher spending for upgrading local sports facilities for Olympic training venues and cost pressures on the Olympic Village and land and infrastructure projects.The government said no contingency funds were released to cover the increases because they are expected to be offset by savings in other areas.The overall public budget for the Olympics remains unchanged at 9.325 billion pounds (C$16.372 billion).
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