In the next five years, at least RUB 664.1bn (€15.1bn) will be spent from the federal and regional coffers as well as by private investors under preparation for the 2018 FIFA World Cup. Initially, officials of host cities submitted projects to be developed under preparation for the tournament with a total value of about RUB 1,390bn ($32.2bn). Half of this amount is to be provided by the Government of Russian Federation and one-third by private investors. It should be mentioned that this value does not cover investment in construction of stadiums in Kazan, Sochi and Spartak Stadium (Otkrytie Arena) in Moscow. As well, it includes only a minor share of transport infrastructure construction projects that are to be implemented in host cities by mid-2018. The new stadium in Kazan was put into use in July 2013. The stadium in Sochi is to be built by January 2014, whereas Spartak Stadium by May 2014. As for most transport infrastructure construction projects, these are being implemented within a dedicated targeted programme – Development of Russia’s Transport System 2010-2020.
Over RUB 660bn on World Cup preparation in Russia
Vitalie Iambla, Construction Analyst, PMR