Beijing Contracts For Main Olympic Venues Awarded
The Beijing municipal government has selected and signed
contracts on the last of the four contracts it offered
to build and run Olympic venues, including the Olympic
village. The contracts were chosen through a public bidding
system, and the winning consortiums win the right to operate
the venues for 30 years after the Olympic games. Confirmation
of the projects means that financing has been committed
for the projects.
The projects were won by Chinese-led consortiums, which
will also have a majority interest in the projects. Firms
from the US, Germany, UK, Australia and Japan are also
involved in financing and design roles. Under the terms,
the Beijing municipal government will hold only a 15 percent
stake in the completed projects, thus transferring the
bulk of the financial risk to the winning consortiums.
The contracts for the national gymnasium and the Olympic
village were awarded to a consortium led by Beijing <243>
Urban Construction Investment and Development Co. The
contract for the Olympic Conference Center was won by
Beijing North Star and Beijing Zhuzong Group. The 2 billion
yuan contract for the Olympic water park to be built in
the Shunyi district was awarded to a consortium led by
Beijing Tianhong Group.
The chosen design for the Olympic village was also revealed.
It was designed by the PTW design group from Australia
and the Beijing Urban Design and Research Institute, and
will cover 27.5 hectares.
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