Extra year to build Macau wholesale market

The government will spend MOP860 million on building the new Macau wholesale market and allot an extra year for its construction, which is expected to be finished by 2016. According to the Official Gazette, the Guangdong Nam Yue Group will receive some MOP860 million to build the new market, located in Ilha Verde. The construction company will get the sum in three tranches paid from 2014 to 2016. This year, authorities will pay MOP350 million, next year another MOP300 million and in 2016 MOP210 million more will be spent on the market construction. In the Official Gazette, the government also announced that it had just granted an extra year to Guangdong Nam Yue Group to finish the construction of the wholesale market. Any budget not spent in one year will be transferred to the next.