Japan OKs Osaka expo construction budget of up to 235 bil. yen

The government announced on Thursday that it has approved the projected 235 billion yen ($1.6 billion) cost for constructing the venue for the 2025 World Exposition in Osaka, nearly double the organizer’s initial estimate.

The cost will be split among the three parties -- the central government, the Osaka prefectural and city governments, and the business community -- with each shouldering an additional 16.7 billion yen.

The government’s approval comes a day after the two other parties announced they have agreed to the construction cost estimate, which has ballooned from the original projectio...