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.
