China to Use 380,000 Tons of Steel to Build Olympic Stadiums

Bloomberg.com: Asia

China will use 380,000 metric tons of steel, or 0.1 percent of its output last year, to build stadiums and gymnasiums for the 2008 Olympic Games in Beijing, the China Iron and Steel Association said on its Web site.

Seven steelmakers […] have been selected to supply the steel for these building projects.

Beijing slashed construction costs for its 2008 Olympics projects by as much as 6 billion yuan ($725 million) in response to a government clampdown on investments in steel, real estate and other industries aimed at slowing the economy.

Building of the bird’s nest-shaped Olympic stadium was halted in August after critics said the design by Swiss architects Jacques Herzog and Pierre de Meuron used too much steel. The stadium was redesigned at the order of Beijing Mayor Wang Qishan, shaving the cost to 2.3 billion yuan from 3.9 billion yuan.

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