The Sochi 2014 Organizing Committee presented its latest progress at the first meeting of the newly structured Inter-Ministerial Commission.
The meeting was staged in the state-of-the-art Sochi 2014 Joint Information Center in Moscow, and covered major developments in the Sochi 2014 construction plan and announced the involvement of four new private investors in the project.
The Commission, headed by Dmitry Kozak, Deputy Prime Minister of Russia, forms part of the Presidential Council of the Russian Federation for Physical Culture, Sport and Preparations for the Olympic and Paralympic Winter Games in 2014. The aim of the Commission is to guarantee effective collaboration between all stakeholders involved in Games preparations.
"We have undergone a process of reviewing construction costs for the development of Olympic infrastructure to ensure maximum cost efficiencies while maintaining the highest possible standards in every aspect of Games delivery," said Kozak.
"Following this review process, the budget for Olympic-related construction will be 195 billion Rubles of which 102 billion Rubles will be funded by the Federal Government and 93 billion Rubles from the private sector. This robust Federal review process not only ensures that facilities are completed within budget, but also meet international ecological standards."
Dmitry Chernyshenko, president and CEO of Sochi 2014, added: “Now market-leading companies recognise collaboration with Sochi 2014 as a major opportunity to overcome the financial crisis as the project has a clear and guaranteed timeline. Soon we will close bids for partners in three more commercial categories: Apparel, Automobiles, Air transportation. The outstanding level of interest in our project continues.”
The new Commission - headed by Dmitry Kozak, Russian deputy prime minister of Russia - has the aim of guaranteeing effective collaboration between all stakeholders involved in Games preparations and provide people across Russia with the latest information about the Games.
