It oversees a major production every two yrs

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Possible Answers: IOC.

Random information on the term “IOC”:

National Olympic Committees select from within their national territory cities to put forward bids to host an Olympic Games. The staging of the Paralympic Games is automatically included in the bid.[1] Since the creation of the International Olympic Committee (IOC) in 1894, which successfully appropriated the name of the Ancient Greek Olympics to create a modern sporting event, interested cities have rivalled for selection as host of the Summer or Winter Olympic Games.
Taken from Wikipedia