It’s been clear that contractor change is caused by insufficient funding, but the scale remained unclear until now. Samara Arena may be over two times more expensive than planned.
As global media informed earlier this week, Samara Arena contractor is stepping down due to insufficient funding for the stadium.
What proved untrue in these reports is that work would stop on site. Now PSO Kazan confirmed they would continue with their contractual obligations until a new contractor is ready to replace them. This way any delays will be minimized, which is crucial due to tight time frame for delivery (late 2017).
While current progress is estimated at 40%, it’s much more difficult to estimate the actual price for getting the 45,000-seater done. Despite various attempts at downscaling its structure and cutting costs, it’s obviously much more expensive than the RUB 13.4 billion approved in 2013-2014. At that time the amount equaled $380 million, while now it’s just $203 million.
What may be shocking is the scale of price increase. Recently the Samara Accounting Chamber suggested that actual price may now be around RUB 23 billion. Meanwhile local media got hold of PSO Kazan’s letter to the authorities, in which the resigning contractor claimed it’s even more, RUB 28.011 billion ($422m)!