Olympic construction projects receive financial guarantees
The Russian government has made it mandatory for investors to provide additional financial guarantees for the construction of Olympic facilities in Sochi, Deputy Prime Minister Dmitry Kozak said, RIA Novosti reports.
«Today's decision grants the relevant investors - both public and private - additional financial guarantee to realize their obligations in time. The deadlines were updated, and we are confident that the decisions that are taken today will ensure the completion of the entire Olympic infrastructure and the highest organizational level of the competition,» Kozak said.
The projected costs of the construction of Olympic facilities are estimated at 1.526 trillion rubles, or about $51 billion. On 1st January 2013, 1.136 trillion rubles have been invested in the project.
The Winter Olympic Games in Sochi will start on 7th February 2014.
Adapted from Vestnik Kavkaza
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