CAPE Town is positioning itself as the “party” capital of the 2010 Fifa Soccer World Cup, which will bring the city a significant financial injection, create new business hubs and instil a greater sense of civic pride in its residents, says Cape Town City Acting Manager, Mike Marsden. The city has finalised its financial planning and risk assessment and submitted the first draft of its business plan to the national treasury, which will decide in November on the allocation of funds. The city will only proceed with its plans once funding is secured. Projected costs include R2.8bn to upgrade Green Point stadium to which the city can contribute R400m without affecting its existing commitments. A further R1bn to R7bn is needed for public transport upgrades. Viewing sites will cost a further R800m. Transport upgrades that would bring long-term benefits entailed new rolling stock for the commuter rail system, upgrading Cape Town central station, a dedicated airport/CBD bus service, upgrading public transport and walkways connecting the station to the stadium. Major envisaged benefits included increased employment in the construction and hospitality sectors, increased tourism and investment.
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