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The Cost of Construction in Sochi
February 12, 2014
If you've been following the 2014 Winter Olympics, you have probably heard about the jerry-built hotel rooms and uncovered manholes. And if you've been watching the events, perhaps you've observed the abismal condition of the half-pipe and snow pack causing countless injuries among skiers.
To answer the burning aforementioned question, the cost of construction in Sochi sings to the tune of around $50 Billion Dollars. In spite of the incomprehensible amount of money intended to bolster the city's infrastructure, one is left to wonder why Sochi was chosen as a host and why, in lieu of such inordinate invested funds, these epic construction fails have occurred?
What we currently know is that the IOC chose the lowest bid, as Russia came in around an estimated $12 Billion compared with competing countries like Spain and Korea. That bid literally quadrupled, but where did all the money go?
On average, Sochi hovers at a balmy 50 degrees during its coldest months and spans a distance of approximately 90 miles. That means an entire system had to be built to accomodate transporation between the city center and the alpine event areas, as well as a system for maintaining and distributing large amounts of snow reserves.
Amidst the lacking infrastructure, a major cause for concern is the need for tight security. Though the cost of security is presumed to be high, the ballooning budget has brought questions of Russia's management into play, and casts shadows of doubt as to whether the original quote was even legitimate. Some are beginning to cry fowl play, including the residents of Sochi itself.
The question remains... where has the money really gone and what is the REAL cost of construction in Sochi?