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Singapore Sports Hub Consortium launches competition to raise funds

Posted on November 14th, 2009 by Mindy Yong.
Categories: Singapore News.

By Patwant Singh

SINGAPORE : The Singapore Sports Hub Consortium has launched a financing competition to help raise funds for the project, estimated to cost S$1.87 billion.

Last month, Community Development, Youth and Sports Minister Vivian Balakrishnan had said the Sports Hub project is back on track and construction should start by the first quarter of 2010.

In a statement, the consortium said it intends to raise bank debt financing and expects to receive offers before year-end.

It declined further comment, although MediaCorp understands that despite the uncertain current economic climate, the consortium is confident of good response from the banks to the financing.

After repeated delays, the Sports Hub is now expected to be completed by late-2013 or early-2014. - CNA/ms

Source : Channel NewsAsia - 14 November 2009

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