Russian Currency Crisis Drives Up Costs Russia's KHL On Verge Of Financial Ruin Mexico Hoping For Joint Olympic Bid Russia Confident Despite Financial Unease Scientists Find 'Super-Bacteria' In Rio SEA Games Possible After IOC Reforms Referendum Could Be Held After Bid Dick Pound To Investigate Allegations Park Opposes Splitting Olympic Games Italian PM Announces 2024 Olympic Bid
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/March 18, 2014/Olympics
Olympic Contractor Inzhtransstroi To Fold Over Sochi Construction Cost Disputes
Published March 18, 2014
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).