Brazil's Audit Court Reveals World Cup Construction Costs To Top $13B
Brazil's Audit Court revealed the cost of construction for the 2014 World Cup has increased by 14.7% in relation to the original estimates, according to REUTERS. A total of R$27.3B ($13.3B) will now be spent on stadiums and infrastructure for the event. The R$3.5M ($1.7B) increase from original estimates is largely due to the R$1.8B (900M) increase in airport construction costs and R$1.1B ($536M) in stadium costs. Apart from the elevated costs, officials also revealed there are "significant delays" in airport construction in the World Cup host cities. The Audit Court released a statement that read, "Airport construction continues at a slow rate. Of the four privatized airports, only Natal and Brasilia have started investments planned for the World Cup. The delays are also noticeable in airports administered by the Empresa Brasileira de Infraestrutura Aeroportuária (the company responsible for operating Brazilian commercial airports)" (REUTERS, 11/9).