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Wallinger’s Horse Statue Stalled as Cost Soars to $15.8 Million

Artist Mark Wallinger’s planned sculpture of a giant horse is in limbo as its corporate patrons strive to raise the 10 million pounds ($15.8 million) needed to make it -- five times more than originally estimated.

Wallinger aims to put up a 50-meter-high (164-ft) monument in former cement quarries at Ebbsfleet in Kent, near London. The white thoroughbred -- 33 times life size -- won a 2 million pound commission from the Ebbsfleet Landmark Project in February 2009, and got planning permission from local authorities in April of this year, its patrons said.