€500m contract let for Sochi Olympics
Spain's OHL Group has won a €497.5m (£388m) contract to build a sports resort for the Olympic Games and Paralympic Winter 2014, to be held in Sochi in Russia.
Work at the Olympic Flame sports resort includes a 300-room hotel, which reaches a height of 245m, a water park and ski resort, equipped with a network of tracks and lifts.
The site has a total area of 510ha, including the ski slopes. Work will be carried out in two phases, the first of which is geared to the Sochi 2014 Winter Olympics. The second phase will follow the Games, starting in April 2014 and ending in May 2015.
This is OHL’s second major contract win in Russia following the €1.95bn award in December 2011 of a 390km railway to transport coal.
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This article was published on 20/07/2012 (last updated on 20/07/2012).