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Olympic Contractor to Fold Over Sochi Construction Cost Disputes

Published: March 17, 2014 (Issue # 1801)



  • Inzhtransstroi built 14 large-scale sites for the Winter Games.
    Photo: Inzhtransstroi Official Website

A top building contractor for the Sochi Olympics will fold after several lawsuits were brought against it by clients who accuse the company of inflating construction costs, the contractor has said.

Inzhtransstroi will begin liquidation because of "serious disagreements with the customers about the cost of the objects that have been built in Sochi," director Yefim Basin told employees on Thursday, the company said in an online statement.

Related: Navalny Publishes Sochi Corruption Report

The disputes resulted in "numerous lawsuits against the corporation," which made it impossible to continue operating, the statement said.

Inzhtransstroi built 14 large-scale sites for the Winter Games, including the Main Media Center in the Olympic Park, a road from Krasnaya Polyana to the mountain cluster, and facilities at the Sochi sea port, the company said.

Next month, the Moscow Arbitration Court is scheduled to review a suit by a state-owned port operator, Rosmorport, which is seeking a 782 million rubles ($21.4 million) from the building contractor, legal news portal RAPSI reported.

Related: Putin Denies Sochi Olympics Corruption

Preparations for the Games have cost Russia about $50 billion. Opposition politicians Boris Nemtsov and Leonid Martynyuk estimated in a report last spring that between $25 billion and $30 billion of this money had been stolen in Sochi.





 


ALL ABOUT TOWN

Saturday, Sept. 20


Starting on Sept. 18 and ending tomorrow is the Extreme Fantasy Wakeboarding Festival in Sunpark by Sredny Suzdalskoye lake in the Ozerki region of the city.


Those after something more laid back can instead head to Jazz and Wine night at TerraVino with legendary jazz guitarist Ildar Kazahanov. 12/14 Admiralteyskaya Emb.



Sunday, Sept. 21


Learn more about African culture and get some exercise during today’s “Djembe and Vuvuzela,” a bike ride starting in Palace Square that includes several stops where riders can listen to the music of Africa or watch short films about the continent. The riders plan to set off at 4 p.m. and all you need to join is a set of wheels.



Monday, Sept. 22


Do you love puppetry? If so, then be sure to go to BTK-Fest, a five-day festival that starts on Sept. 19 celebrating the art. Contemporaries from France, Belgium, the U.K. and other countries will join Russian artists to put on theatrical performances involving a variety of themes, materials and eras. Workshops and meetings are also scheduled for a chance to discuss the artistic medium in further depth.



Tuesday, Sept. 23


Marina Suhih, Director of the External Communications Department at Rostelecom North-West, and Yana Donskaya, HR Director for Northern Capital Gateway are just some of the confirmed participants of today’s round table discussion on “Interaction with Trade Unions” being hosted by SPIBA. Confirm your attendance with SPIBA by Sept. 22.


Kino Expo 2014, an international film industry convention, will be at LenExpo from today until Sept. 26. The third largest exhibition of film equipment in the world, the expo focuses on not only Russia but former Soviet republics as well.



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