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South Africa's 2010 business plan highlights investment, benefits

Article Published: Tuesday 7 November 2006

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A multi-billion Rand investment in a world-class multi-purpose stadium; improved transport systems; other infrastructure and extensive preparations for the 2010 FIFA Soccer World Cup are highlighted in a joint business plan of the Western Cape.

The business plan of both the Western Cape and the City of Cape Town is to be submitted to the National Treasury by tomorrow.

A joint statement said the plan would form the basis for negotiating what portion of the R8.4 billion allocated for the construction of arenas for the soccer event would be given to Cape Town.

The plan was approved today at a joint meeting of Premier Ebrahim Rasool, Executive Mayor Helen Zille, the provincial Cabinet and the mayoral committee.

The cost of the 68 000-seater stadium in Green Point had been calculated at R2.49 billion (excluding VAT).

The City of Cape Town has committed R400 million and the provincial government R100 million to the costs, leaving a balance of R2 billion requested from National Treasury.

Premier Rasool said the business plan was a blueprint of commitment and hope for the people of Cape Town and the Western Cape.
"It will require determination and hard work to ensure success, but the rewards will be a once-in-a-lifetime experience and opportunities to give our surroundings and infrastructure a major boost."

Ms Zille said the joint effort made it clear to FIFA, the Local Organising Committee (LOC) and the world that Cape Town was excited and committed to hosting spectacular 2010 events.

"This can only improve our attractiveness as a destination for investors and visitors while improving the infrastructure and facilities for all who live here."

The stadium will be situated close to a residential area. Specific objections by residents during the Environmental Impact Assessment [EIA] process related to noise levels, visual impact, financial sustainability and parking.

Measures to manage these concerns, geological and additional site specific costs are estimated to cost some R609 million.

The statement said measures to address EIA concerns might be made legal obligations when a Record of Decision for one of the two possible sites was announced by the provincial government.

According to the business plan, the 2010 FIFA World Cup marketing opportunities are tremendous with an estimated international visitor arrival of 500 000 people and a cumulative television audience of 25 to 28 billion.

"The event will also leave a legacy of benefits which includes new facilities, upgraded infrastructure, commercial and social development benefits as well as skills," said the statement. - BuaNews




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