On Air Now

Now Playing

Our Playlist »

Listen

Listen Live Now » 95.5 FM Wausau, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
56° Feels Like: 56°
Wind: W 7 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 40°

Tomorrow

Mostly Sunny 68°

Thurs Night

Partly Cloudy 40°

Alerts

Russia to spend more than $50 billion on Sochi by 2014

MOSCOW (Reuters) - Russia will spend more than $50 billion on preparation and staging the 2014 Winter Olympics in Sochi, Deputy Prime Minister Dmitry Kozak said on Friday.

As of January 1, 2013, Russia had already spent nearly 1.136 trillion roubles ($37.85 billion), Kozak told reporters following a meeting of the state commission on Sochi in the government headquarters in Moscow.

"Of that sum, 737 billion roubles ($24.55 billion) had come from private investors and the rest from the federal budget," Kozak, appointed by Russian President Vladimir Putin to head the Sochi preparations, said.

The total expenditure will be 1.526 trillion roubles ($51.08 billion), he added.

The latest figure is almost five time more than the original estimate, which was done shortly after the Black Sea resort was awarded the 2014 Games in July 2007 as Sochi needed to build most of the sports venues and infrastructure from scratch.

(Reporting by Gennady Fyodorov, editing by Pritha Sarkar)

Comments