Brazil unveils $10 billion infrastructure budget for Rio Olympics (Yahoo source)
By Pedro Fonseca RIO DE JANEIRO (Reuters) - Brazilian authorities unveiled an infrastructure budget of 24.1 billion reais ($10.76 billion) for the Rio 2016 Olympic Games, 25 percent more than planned, as they try to reassure the world they can deliver facilities on time. The budget covers 27 projects in urban development and public transport, including 8 billion reais for a newly added fourth metro line for Rio, Brazil's congested second largest city, where getting around town is an ordeal. Other initially envisaged projects were excluded, such as the upgrade to Rio's international airport Galeao, which has been handed to private operators. Rio Mayor Eduardo Paes said the higher budget was due to the inclusion of new projects and inflation, which has blown up costs by 30 percent since Rio won hosting rights for the event in 2009.