TOKYO, Oct 21 (NNN-NHK) – The construction costs for the 2025 World Exposition in the western Japanese city of Osaka, are now expected to reach up to 235 billion yen (about 1.57 billion U.S. dollars), nearly 1.9 times the original estimate.
The Japan Association for the 2025 World Exposition, the organiser of the event, informed relevant parties yesterday of the new estimate. This is the second time the venue construction cost estimate has been raised.
Initially, the cost was put at 125 billion yen, when Osaka was selected to host Expo 2025. It was raised to 185 billion yen in Dec, 2020, partly due to the need to strengthen measures against summer heat.
The organiser now revised the estimate again as material costs have been surging, amid a weak yen, while personnel costs have also been rising because of a chronic labour shortage in the construction industry.
The construction costs are to be shared equally by the central government, the Osaka prefectural and city governments, and the business community.– NNN-NHK
