Kurortny Avenue relief road to be built in full

2010-09-06

The relief road to Kurortny Avenue in Sochi will be finalised despite earlier appearing information that its construction would be stopped as a result of the reduction of the 2014 Olympics budget. However, it will cost almost 30% less than the initially budgeted €3bn. The authorities have advertised a tender for the construction of the two remaining parts of the project – between Zemlyanichnaya Street and the Sochi River and between the Sochi and Psakhe Rivers. The starting price for the two lots is set at €0.8bn each. The project involves the building of new housing to relocate residents of houses situated on the site of the future road. According to informed sources, such companies present on Russian construction market as Transstroy, controlled by Oleg Deripaska (which won the tender for the first stretch of the road), Roman Abramovich’s Mosinzhstroy and Mostotrest may participate in the tender.