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Russian Mega Projects

Published: May 23, 2014 (Issue # 1812)



  • Expected to cost $20 billion, the 2018 World Cup will see matches played in stadiums such as Kazan Arena.
    Photo: Wikimedia Commons

Russia has a history of attempting to use vast infrastructure mega-projects to boost its economy. The

St. Petersburg Times looked at some past, present and future highlights of Russias propensity to dream big.

Past

Winter Olympics, Sochi, 2014

Price tag: $51 billion

A matter of national pride and a great image booster, the Sochi Olympics were as smooth as could be sports-wise but less so financially. Whistleblowers spoke of embezzlement reaching up to 50 percent of the Games budget, though officials denied such claims. Three months after the Games, neither businesses nor the state have much use for the Olympic venues, and local administration and hoteliers admitted the city will struggle to make full use of the infrastructure constructed for the event. Ironically, Russias public relations gains were almost immediately nullified by Russias meddling in Ukraines political crisis, while the newly annexed Crimean peninsula will now compete with Sochi for tourists and state support.

Present

World Cup, 2018

Where: 12 Russian cities.

Price tag: $20 billion

The football fiesta is a step up from previous sporting mega-projects in Russia, which were concentrated around a single location. Twelve Russian cities will host World Cup matches in 2018. The building spree could do a lot for the transportation and hotel industries, but mega-projects have a tendency to exceed the initial price tag Sochi was originally billed at $12 billion, implying that World Cup costs could spiral as high as $80 billion. Brazilians actually rioted recently against the high costs of hosting the 2014 World Cup, and it remains to be seen whether Russians would be more enthusiastic about the sport than football-mad Brazil.

Future

Nuclear Power Plant

Where: Hanhikivi, Finland.

Completion date: 2024.

Price tag: $8.4 billion

The most expensive item on the list of seven mega-projects currently being considered for financing from Russias oil-revenue funded piggy-bank, the National Welfare Fund, the plan would see Russias state-run Rosatom corporation build a nuclear power plant in Finland, an energy-strapped nation that was the first in the world to commission a new nuclear plant after the Fukushima disaster in 2011. The payback period for Rosatom is estimated at about 20 years.





 


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 todays 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 todays 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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