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SBD Global/March 18, 2014/Olympics

Olympic Contractor Inzhtransstroi To Fold Over Sochi Construction Cost Disputes

Sochi Olympics building contractor Inzhtransstroi said that it "will fold after several lawsuits were brought against it by clients who accuse the company of inflating construction costs," according to the ST. PETERSBURG TIMES. The company said in an online statement that Inzhtransstroi Dir Yefim Basin will begin liquidation because of "serious disagreements with the customers about the cost of the objects that have been built in Sochi." 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" (ST. PETERSBURG TIMES, 3/17).

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