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Building Olympic facilities to cost over 2b USD

www.chinanews.cn 2005-01-28 16:57:53

Chinanews, Jan. 28 - Liu Qi, secretary of the Beijing Municipal
Committee, said yesterday seven renowned domestic and foreign enterprises
would become partners of the 2008 Olympic Games. Funds to be raised to
finance the Beijing Olympics would likely total more than 2 billion US
dollars. He requested that major stadiums and gyms be largely completed
by the end of 2007.
Liu Qi focused on the preparatory work for the Olympic Games. In the past
three years, after China won the bid for the Olympics, construction of
Olympic stadiums and gyms has been steadily moving forward. By the end of
2003, construction of 7 stadiums and gyms, including the National Stadium
and the Swimming Centre, has started. In 2004 some original plans for the
stadiums and gyms were optimized and modified to further improve safety,
quality, function, construction timeline and cost.
Liu also announced that the marketing initiatives of the Olympics had
seen some results. At present, 7 large domestic and foreign enterprises
have signed partnership agreements with the Beijing Organizing Committee
for the 2008 Olympic Games. Including all sources, the total amount of
funds that would be raised could be as much as 2 billion US dollars,
exceeding the original forecast of 1.625 billion US dollars.
Liu said that Beijing was actively cooperating with the International
Olympic Committee. These two parties have jointly established the Beijing
Olympic Broadcast (BOB) to better supervise and audit Olympics-related
projects and the Beijing Organizing Committee and ensure a clean Olympics.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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