No Tickets Yet For Arena Corinthians 2016 FA Disappointed Over Olympics Drop Russian Hockey League Battered IOC Receives Rights Assurances For Bids Rio Government Spends $6M On Cleanup Beijing 2022 Touts Open Internet Access Munich Would Have Gotten 2022 Games Women's Team GB Scrapped For Rio Rio 2016 To Generate 80,000 Jobs Troops For Rio 2016 Will Cost $182M
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
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).