Tenders for all five new Soccer World Cup stadiums have come back at least R2-billion over budget, the Star reported on Wednesday.
It said the same applied to the upgrade of the FNB stadium. The National Treasury had allocated R8,4-billion for the construction and renovation of the country’s 10 World Cup stadiums, but more money would be needed.
Negotiations with preferred bidders bidders is still under way to review the final costs.
The paper said the King Senzangokhona stadium in Durban was 18% over budget, Cape Town’s Green Point stadium was 54% over budget and the Nelson Mandela stadium in Port Elizabeth was 19,5% over.
Refurbishment for the FNB stadium was also well over budget, but the preferred bidder had reviewed costs and design of the stadium.
The paper quoted chief executive of the 2010 organising committee Danny Jordaan as saying: ”The first thing we must do is to understand where the cost overruns occur. We will engage in a very intensive process to get a thorough understanding.”
Jordaan said he was confident that the financial issues could be resolved. – Sapa