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With no issues with TCU, Arena da Amazônia awaits BNDES to advance

Stadium value readjustment "settles accounts" with the court; it just needs the state bank release

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From the editorial staff
Posted on 27/09/2012 17:38 h
updated on 19/10/2012 16:09 h

In sight of the Brazilian Court of Audit (TCU), which showed evidence of overpricing in the construction of Arena da Amazôniaearlier this year, the World Cup stadium in Manaus has fully regularized its situation since August.

However, the release of the second installment of the funding of R$ 400 million via the BNDES (Brazilian Development Bank) is still lacking, suspended exactly at the request of the highest auditor body. The Project Management Unit of the World Cup in Manaus (UGP Copa) has no estimate of when this will occur.

Arena da Amazônia awaits release of resources from BNDES (credit: GMP Architekten/Divulgação)

"It's all right with the court, we just need the release by the bank," said the coordinator of the UGP Copa Miguel Capobiango to the site "" The manager also noted that the issues have changed the deadline for delivery of the arena from July to December 2013. 

"The extension is something that has already been communicated to the FIFA’s secretary general, Jerome Valcke, when he was here. This will be done because of this imbroglio involving TCU and BNDES," he explained. 

The change in the delivery date of the work, which had already been anticipated by Portal 2014 in December last year (read the report here), was consolidated during a Valcke’s visit to the construction site of Arena da Amazônia in last August.

On the occasion, the secretary of FIFA estimated that it would only be possible to meet the deadline if the completion was delayed by six months.

The stadium had approved the executive project and all pending issues with TCU were resolved last August 17. Since then, it has been awaiting the BNDES’ opinion in favor of the release of more resources.  So far, the arena has been built with money from the first installment of the BNDES (about R$ 80 million) and from the government of Amazonas (R$ 160 million).

At the moment, 1,100 workers are working on the project, with availability of immediate hiring of one hundred more workers, the UGP Copa said.

Subject of complaints from TCU since 2010, the last issue of the Arena da Amazônia with the highest audit body in April was related to an increase of R$ 86.5 million in the construction of the stadium. On the occasion, TCU identified duplication of costs in some aspects of the work. 

On the recommendation of the body, the BNDES suspended the transfer of the loan valued at R$ 400 million. Months later, the construction company and the government of Amazonas readjusted the value of the arena, which fell from R$ 615.9 million to R$ 529.4 million. 

The suspension of the state funding, it seems, will end soon. Today, the World Cup stadium in Manaus has 45% of works completed. During the competition, it will receive only four matches, all in the first round.

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