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Tokyo 2020 Olympics To Save Costs But Will Not Change Venues

Tokyo's government is "unlikely to make major changes to the plans for several 2020 Olympic Games venues, including one it had proposed moving elsewhere, but it will make efforts to pare costs," according to Elaine Lies of REUTERS. Tokyo Governor Yuriko Koike "ordered a review of ballooning Olympic expenses" that recommended changing three venues. But the city is now leaning toward "building new venues for these and several other events in Tokyo as originally planned, although it would cut the price tags by modifying plans, the Nihon Keizai Shimbun (Nikkei) and other papers reported, quoting people connected with the matter." For the rowing and canoe/kayak site, known as the Sea Forest Waterway, the city planned to cut costs to 29.8B yen ($263.8M) from 49.1B yen ($434.6M) by building temporary seats. Similar modifications "would be made for planned gymnastics and swimming venues" (REUTERS, 11/24). NIKKEI reported the 2020 Olympics "could be staged at least" 275B yen ($2.43B) more cheaply, the IOC argued. It claimed that 100B yen ($885M) "or so could be saved on security by making use of existing facilities and re-evaluating sources of materials." Adjusting compensation to highway companies and mass transit operators "would free up another" 100B yen from transportation. Technical costs, such as for communications network construction, could be reduced by about 39B yen ($345M). The IOC also indicated that reviewing the cost of competition venues uncovered 36B yen ($318.7M) "in possible savings" (NIKKEI, 11/26).

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