Russia: Olympic costs under control

Sep 14, 2011, 12:12 GMT

Sochi, Russia - Russian government officials on Wednesday rejected reports of soaring costs for the 2014 Winter Olympics in Sochi, saying spending was within budgets and preparations fully on track.

'We expect no increase,' said Vice-Prime Minister Dmitry Kozak at a Sochi press conference. 'There is no additional risk to the government.'

He estimated the cost of pure games-related infrastructure to be built at Sochi at some 6.7 billion dollars, and the total value of regional investment at 30 billion dollars.

Almost all the stadiums and sports venues, as well as numerous roads and railway lines are being created from scratch for the event.

Russian media has repeatedly reported on corruption and soaring construction costs - allegations rejected by government officials.

Sports facilities across the Sochi region, on the western end of the Caucasus mountain range, were nearly completed, Kozak said.

He promised the games' gala opening on February 7 2014 would be impressive, with few expenses spared.

'It will be a unique ceremony, and will significantly exceed Vancouver (2010),' Kozak said.

International Olympic Committee (IOC) officials during a Sochi visit said they were extremely pleased with the progress with Russia's efforts in preparing to host the games.

'Work is progressing excellently,' said the chairman of the IOC Coordination Commission, Jean-Claude Killy. 'The enthusiasm is growing.'

He had the impression that the whole of Russia was behind the Games, Killy said.

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