Valencia City is the capital city of the Valencia region and it has a Trade Fair which the tax payers of the region are now going to have to prop up to the tune of 1 billion euros .However this will leave the IFA fair in Alicante to go to the wall .The Valencia regional government´s own auditors shows that the cost of works to expand and modernise Feria Valencia will be over a billion euros until 2029 .These costs have increased by over 80% since they were first estimated and in some aspects of the work it has increased by 160% . The regional government is liable for the massive cost as guarantor for the works in the likely event Feria Valencia cannot pay its debts . Within the report there was criticism of the regional government for the way it carried out procedures in making the investment without respecting the norms for public tenders . Meanwhile Alicante´s fair Institucion Ferial Alicantina ( near the airport ) is wallowing in debt of 70 million and is unable to complete its improvement works , which were terminated 2 years ago . Opposition parties have called this report a ” disaster ” for the regional government and called for the resignation of the mayoress of Valencia who is also president of Feria Valencia .The mayoress stressed that the report is only ” provisional ” . Check Out The Full Indepth Details Here: Valencia | Trade Fair One Billion Euro Disaster
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