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Estimated costs for temporary venues at 2020 Olympics grow by 4 times

The Tokyo Organizing Committee of the Olympic and Paralympic Games released an estimate on July 25 that the costs for setting up temporary venues at the 2020 Games will be around 280 billion yen, about four times the estimate at the time of Tokyo's Olympic bid.

    At a meeting of the committee's executive board, Committee President Yoshiro Mori criticized the sloppiness of the earlier estimate, saying, "There are so many problems with the Olympic bid portfolio that if you brought up all the finer points there'd be no limit."

    The estimated cost of the 2020 Olympics in the bid portfolio was 734 billion yen, but due to factors such as higher materials prices, there are estimates that the cost could nearly reach 2 trillion yen.

    The committee was originally to provide 301.3 billion yen for the Olympics, but with the venue costs alone estimated to almost reach that whole amount, the committee says it has worked with the Tokyo Metropolitan Government to cut Olympic costs by about 200 billion yen.

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