Sports Hub consortium having difficulty finding funds to start project

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.

Source : Channel NewsAsia – 3 Feb 2009

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