Wednesday, September 30, 2009

Major Funding Shortfall for 2010 Stadia

South Africa is falling short more than 2.3 billion Rand (~$300 million) for six of the new stadia being built for the 2010 World Cup, according to officials.

"National Treasury has informed me of the projected shortfalls for the 2010 FIFA World Cup stadiums. The total shortfall on the six new stadiums is 2.33 billion rand as of July 2009," Finance Minister Pravin Gordhan said in a written response to a question in parliament.

SA sees R2.3 billion World Cup stadium shortfall
Business Report
September 17, 2009