Russia: No more money for Saint Petersburg?

source: RIA.ru

Russia: No more money for Saint Petersburg? The most shameful project of 2018 World Cup won’t get any more money from the federal budget – prime minister Medvedev announced. He slams the construction pace and cost, calling Gazprom-Arena a disgrace.

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Russian prime Minister Dmitry Medvedev said today the drawn-out construction of Zenit St. Petersburg’s new stadium “looks disgraceful” and said it would receive no more cash handouts from the government.

From now on any financial support to the project will only come as loans, not grants. The reason behind such a harsh decision is constantly growing cost that according to official figures is already at 29 billion rubles ($886), though some data shows it beyond the 33-billion mark.

Construction speed is another reason to call it ‘disgraceful’. Works started back in 2006 and are only around 50% at this moment. Official information gives time until delivery until 2015, but again the worst case scenario is 2017 (last moment before 2018 World Cup), which would mean the structure would take 11 years to build!

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