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Loading ...A funding crisis is developing in South Africa, with the completion of the Peter Mokaba 2010 FIFA World Cup Sports Complex now in serious doubt. Polokwane executive mayor Thabo Makunyane announced that the budget of R1,3billion has been exhausted and another R251 million will have to be found in order to complete construction.
The developers have approached the Treasury and will also seek funding from the Development Bank of Southern Africa. Despite the stadium being already delayed by weather and labour-relations problems, Polokwane insist that the project will be finished in time for the 2009 FIFA deadline if the necessary funds are found.
Sowetan.co.za published quotes from Polokwane executive mayor Thabo Makunyane:
“The construction of the stadium was budgeted at R1,3 billion, which is almost exhausted,” Makunyane said. “The remaining 49 percent of the stadium will need an extra R251 million.”
Construction started in March last year and was supposed to have been completed by March this year.
“But because of rains and labour-related problems work was hampered and the completion period extended,” Makunyane said.
“If we get the funds in time the entire complex will be finished before the Fifa June 2009 deadline,” he promised.
He said most of the roads in the city would be revamped to cope with the volume of transport anticipated during the games.
“We have a budget of R143million from the national Department of Transport for the improvement of roads infrastructure around the city and the stadium,” Makunyane said.
Source & Full Article: The Sowetan
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