WC stadium costs up by 18 percent

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Escalating oil prices, imports and the complex designs were the factors for overruns in stadium construction costs, Deputy Minister of Finance Jabu Moleketi said yesterday.

Moleketi said the necessary additional finance would come from the national fiscus and the individual host cities.

The Deputy Minister also disclosed that all venues are on track to be completed on time.

He emphasised that Nelson Mandela Bay stadium in Port Elizabeth, which was recently excluded from hosting the Confederations Cup in June 2009 due to construction delays, will be ready for 2010.

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