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VTB finances construction of Olympic facilities

12 January 2009

Under the program for construction of Olympic facilities and development of the city of Sochi as a mountain-climate resort VTB Bank has provided JSC USK MOST with a two-year facility of RUB 10 billion.

The funds will be used to purchase foreign road heading machines and other equipment required for construction of a combined highway and railway from the city of Adler to the first station of Roza Khutor ski resort.

This 55 km transport system is going to include 33 bridges and 12 tunnels with a total length of 26 km. The project with an estimated cost of RUB 466 billion is to be finished by Q3 2013, as the International Olympic Committee requires. According to the instructions of the RF Government progress is controlled by JSC Russian Railways.

For reference:
JSC USK MOST is one of Russian construction industry leaders. Having started in 1991 with the overhaul of the Transbaikal railway today the company constructs and reconstructs railways and highways, small and big bridges, tunnels, ports and berths, waterworks and landing strips, as well as residential and office buildings.

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