Sochi 2014 Winter Games on Track

Introduction

Main Digest

Design and planning phase pearly complete; construction phase to commence on time.

The organizers of Russia's first Olympic and Paralympic Winter Games are at SportAccord in Denver this week to outline to the Association of International Olympic Winter Sports Federations (AIOWF) that Sochi 2014 is fully on-track to deliver the highest quality facilities for athletes and officials and is about to embark on the second phase: the construction of the venues.

At one of the world's largest sport conferences, SportAccord, the President and CEO of Sochi 2014, Dmitry Chernyshenko, will held a series of meetings with leading figures from across the Olympic Movement, advising them that the first phase of Sochi 2014 construction - the design and preparation stage - is nearly complete, exactly as planned and promised to the International Olympic Committee (IOC).

The Olympic Family has also heard that the second phase of construction - the construction of all Olympic venues - will be fully underway later this year. Several Sochi 2014 venues have already begun construction, with some mountain venues being used for this year's ski and snowboard season in Sochi.

Dmitry Chernyshenko, President and CEO of Sochi 2014, said:

"I am very pleased to be at SportAccord to update the Olympic Movement on the great progress that Sochi 2014 is making. Sochi 2014 is on schedule, on budget and guarantees the highest quality facilities for athletes to compete and train in during Russia's first Winter Games and for years to come.

Not a single day has been lost, so we are one hundred percent on-track according to the IOC Master Plan and looking forward to welcoming the IOC Coordination Commission to see our progress for themselves later this year."

Mr. Chernyshenko has also highlighted to SportAccord delegates that the delivery of Sochi 2014 is fully supported by the highest levels of the Russian Government. Earlier this week, President Medvedev was updated on Sochi 2014's progress and he confirmed that the current global economic situation will not compromise the delivery of Sochi 2014 to the highest possible standard. President Medvedev also reiterated the Government's commitment to guarantee all necessary finances for Sochi 2014.

In addition to the development of Winter Games venues, major progress is also being made in the associated transformation of the Krasnodar Region. All Sochi 2014 General Partners will play a pivotal role in the region's development - the major brands of Rostelecom, Megafon and Rosneft who have already become General Partners have stated their commitment to invest in the Sochi region.

Rostelecom and Megafon have pledged to invest more than $200 million in the Krasnodar Region - raising their total investment in the Sochi 2014 project to $500 million. Rosneft will also develop more than 75 petrol stations in Sochi and the surrounding region as well as specialist snow-cat and boat refueling stations in addition to supplying fuel on favorable terms to Sochi 2014 delivery partners.

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