Osaka Expo construction costs expected to rise to 235 bln yen-Xinhua

Osaka Expo construction costs expected to rise to 235 bln yen

Source: Xinhua

Editor: huaxia

2023-10-21 13:26:45

TOKYO, Oct. 21 (Xinhua) -- 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 organizer of the event, informed relevant parties on Friday 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 December 2020, partly due to the need to strengthen measures against summer heat.

The organizer 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 labor 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.