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AUSTRALIAN OPEN 2013
CROUCHING TIGER
#262 Posted : Saturday, February 02, 2013 5:57:37 AM(UTC)
CROUCHING TIGER

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Russia to spend more than $50 billion on Sochi by 2014 !!!



MOSCOW (Reuters) - Russia will spend more than $50 billion on preparation and staging the 2014 Winter Olympics in Sochi, Deputy Prime Minister Dmitry Kozak said on Friday.

As of January 1, 2013, Russia had already spent nearly 1.136 trillion roubles ($37.85 billion), Kozak told reporters following a meeting of the state commission on Sochi in the government headquarters in Moscow.

"Of that sum, 737 billion roubles ($24.55 billion) had come from private investors and the rest from the federal budget," Kozak, appointed by Russian President Vladimir Putin to head the Sochi preparations, said.

The total expenditure will be 1.526 trillion roubles ($51.08 billion), he added.

The latest figure is almost five time more than the original estimate, which was done shortly after the Black Sea resort was awarded the 2014 Games in July 2007 as Sochi needed to build most of the sports venues and infrastructure from scratch.

(Reporting by Gennady Fyodorov, editing by Pritha Sarkar)


WELCOME TO THE REAL WORLD
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paul_pipkin on 2/2/2013(UTC)
paul_pipkin
#263 Posted : Saturday, February 02, 2013 8:53:19 AM(UTC)
paul_pipkin

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Thanks for the intel--just watch out for that by-line: Reuters' Moscow flack, Gennady Fyodorov, is a liar of renown. :P


I put the new thread in Off Court.

"That's the way the world works... right now." --Maria Sharapova at 17
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CROUCHING TIGER on 2/2/2013(UTC)
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