The cost of remodelling Rio´s Maracana Stadium may cost up to 1 billion Brazilian Reals, and also will take longer than expected. A local press article stated that the Consórcio Maracanã Rio 2014, the company in charge of the project has discovered that more parts of the original structure of the stadium, that was built in 1950, are deteriorating. Therefore the reconstruction will not be ready by December 2012 as was originally planned, but only six months later, in time for the Confederations Cup in 2013.
At present the cost of the project is estimated at R$712 million. A local expert called João Luiz Casagrande, said that the original metallic and concrete structures were planned to last 50 years, but Maracana Stadium has been in use for 60 years.
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