OSAKA: The organizer of the 2025 World Exposition in Osaka, western Japan, plans to raise the venue construction cost estimate for the second time, possibly to around 230 billion yen, sources said Monday.
The estimate will be raised reflecting soaring material and labor costs. The estimate, initially put at 125 billion yen, was raised to 185 billion yen in December 2020 for stronger measures to cut the impact of summer heat.
How much the estimate will increase this time may vary depending on the results of a detailed cost examination being conducted by the organizer, the Japan Association for the 2025 World Exposition.
The construction cost will be shouldered equally by the central government, the Osaka prefectural and city governments and the business circle.
The central government is considering securing some of the additional expense under the expected fiscal 2023 supplementary budget.
Over the Osaka Expo, security cost is also forecast to increase following assaults against dignitaries and a deadly crowd crush in South Korea.
Industry minister NISHIMURA Yasutoshi has said that the central government will bear the cost of safety measures at the Expo venue.
JIJI Press
