Venezuela spends US$700 million to host football tournament

The official draw for the world's oldest football tournament, the South American Nations cup, also known as "Copa America" was held on Feb. 14 in Caracas, capital of Venezuela. The twelve countries taking part have been divided into the following groups :
Group A: Venezuela, Bolivia, Uruguay and Peru.Group B: Brazil, Chile, Ecuador and Mexico.Group C: Argentina, Colombia, Paraguay and U.S.A.
The event will be transmitted live from June 26 to July 15 via satellite to 180 countries with a total audience of 800 million viewers. The Chavez administration has invested approximately US$700 million to build new stadiums and upgrade others.The South American Football Federation (Conmebol) sent an inspection committee to Venezuela that was extremely pleased with the progress in the construction of the nine sports arenas."We have given our full approval to the Venezuelan stadiums. The world must know that some monumental venues are being built. Venezuela now has the best stadiums in South America, and we are sure this will be the most successful Copa America in history," said Nolberto Alvarez, head of the Conmebol inspectors in an interview with ABN (Venezuela's news agency).Hildo Nejar, a Brazilian inspector went even further with his praises by stating that Venezuela could organize a World Cup in the near future.“We have been very impressed by the constructions. The workers have made a great effort to finish in time and now Venezuela will have some incredible stadiums,” said Nejar.
According to the Conmebol inspectors, the new stadiums comply with FIFA standards and are very similar the best European grounds.“Our stadiums have nothing to envy those seen at the last World Cup. This is a great boost to Venezuela's sporting infrastructure for the future," said Rafael Esquivel, President of the Venezuelan Football Federation.As follows is a description of the stadiums :
Monumental Stadium (City of Maturin ): Probably the most spectacular with a capacity for 52,000. A World Cup class venue. Investment: US$ 58 million. Metropolitan Stadium (City of Merida ): Built in 2005 with a capacity for 42,000 spectators but currently also being upgraded at a cost of US$ 74.5 million. Agustin Tovar Stadium (City of Barinas) : Has a capacity of 27,000 spectators and built at a cost of US$60.5 million.Metropolitan Stadium (Barquisimeto): For 38,000 spectators at a cost of US$ 74.5 million.
Cachamay Stadium (Guayana City): Capacity: 41,000 spectatorsInvestment: US$ 74.5 million.
General JA Anzoategui Stadium (Puerto La Cruz):Capacity: 38,000 spectatorsInvestment: US$ 42 million
Pachencho Romero Stadium :(Maracaibo): Capacity: 35,000 spectatorsInvestment: US$14 million
Caracas Olympic Stadium (Caracas): Capacity: 30,000 spectators.Investment: US$16 million
Pueblo Nuevo Stadium (City of San Cristobal): Capacity: 40,000. Investment: US$60.5 million.
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