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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

Wednesday, Sept. 3


Although the Peter and Paul Fortress sand sculptures are more central and therefore more visible to the throngs of tourists, the 300th Anniversary Park of St. Petersburgs own collection closes today. The World Collection of Sand Sculptures that have been on display at the park reaches its final day, so fans of the classic beach activity should get there while they can.



Thursday, Sept. 4


Vladimir I. Danchenkov, Head of Baltic Customs, will be in attendance during AmChams Customs and Transportation Committee Meeting convening this afternoon at the organizations office near St. Isaacs Square at 3 p.m.



Friday, Sept. 5


Scrabble lovers and chess masters get their chance to assert their intellectual dominance at the return of the British Book Centers Board Game Evenings tonight. Held weekly on Friday nights, the event gives both board game lovers and those hoping to improve their English the chance to meet, greet and compete. Check out the centers VK page for more details.



Saturday, Sept. 6


Athletes will relish the chance to get the latest gear and try out something new at I Choose Sport, an annual event at Lenexpo forum that plans to welcome more than 30,000 people this week to the international exhibition center. Not only will visitors get to try their hand at various athletic endeavors but they will also be able to peruse equipment that can fulfill their dreams of becoming a champion.


Local KHL team SKA St. Petersburg open their season this evening at home against Lokomotiv Yarovslavl at the Ice Palace arena next to the Prospekt Bolshevikov metro station. See their website for a full schedule and available tickets.



Sunday, Sept. 7


Check out retro and antique cars at Fort Konstantin on Kronstadt Island in the Gulf of Finland at FORTuna, a yearly car festival that highlights the eccentricities of the Soviet automobile industry. A car race, contests and a stunt show will give visitors a chance to rev their engines.



Monday, Sept. 8


This evening marks the opening of the two-week ballet festival High Season at the Mikhailovsky Theater. Check the theaters website for more details about performances and featured dancers.



Tuesday, Sept. 9


Discuss the latest news and issues at the AmCham Hazardous Waste Management Roundtable this morning in the Tango Conference Hall of the Sokos Hotel Palace Bridge on Birzhevoy Pereulok. Starting at 9 a.m., planned topics include the Krasny Bor landfill and waste transportation between Russia and Finland.


Learn more about the citys modern architectural trends at the SPIBA Real Estate and Construction Committees meeting on the topic Contemporary Petersburg Style: What is It? Participants will get the chance to discuss whats in-demand with RBI Holdings Irina Petrova and Lubava Pryanikova, and the current state of the local real estate market. Please confirm your attendance by Sept. 5 through SPIBAs website if you wish to attend.



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