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7 Mar, 2008 08:47

Sochi Olympic costs could climb

The exact budget for the 2014 Winter Olympics and Paralympics has yet to be finalised. The official amount announced by the games' Organisation Committee is about $US 6 billion, but some analysts are saying the cost could be much higher.

Speaking about investment in preparations for the games, the CEO of the Sochi 2014 Bid Committee, Dmitry Chernyshenko, explained that there are two separate budgets: money spent on the construction of venues and that spent on the development of the region’s infrastructure.

“We’re not likely to exceed the Olympic Organisation Committee budget, but there will also be other expenses, which are vitally important the games and for the region as a whole,” he said.

Dmitry Kozak also said that Russia's construction companies may use Abkhazian sources for the projects if they find it financially beneficial.

“The state does not do the construction work. It's private companies that do that. It's their business to decide where to buy materials and from where to draw their workforce. If they decide it's financially advantageous to get it from neighbouring Abkhazia, they're able to do so,” he noted.