Channel NewsAsia - Wednesday, February
4
SINGAPORE: The consortium which is constructing
the Kallang Sports Hub is having difficulty in raising the
necessary funds to start the project, due to the ongoing financial
crisis.
The government is in active discussions with the consortium to
address this, as well as options on how to move the project
forward.
Minister of State for Community Development, Youth and Sports
Yu—Foo Yee Shoon revealed this in parliament on Tuesday, in
response to a query from MP Ho Geok Choo.
Mdm Ho further pressed the ministry for a final deadline beyond
which the Sports Hub cannot be further postponed.
She also asked the ministry to provide an analysis of the
potential loss of revenue from deferred or lost sporting events
because of these delays.
The earliest completion date of the Sports Hub project is now
2012, about two years later than originally planned.
In response, Minister for Community Development, Youth and
Sports Vivian Balakrishnan said: "I hope members will appreciate
the negotiations are still ongoing and I do not want to make any
public announcements on deadlines or on analysis of losses because
that will compromise our negotiating positions."
A consortium led by a subsidiary of France’s Bouygues
Construction won the tender early last year to build the S$1.2
billion complex, including a dome—shaped national stadium, with a
retractable roof, able to seat 55,000 people.
It was also to feature a 6,000—capacity indoor aquatic centre,
an artificial river offering whitewater rafting, and a
3,000—capacity multi—purpose arena.