The Russian Government adopted the Federal Target Program (FTP) “Development of Sochi as a Mountain Resort, 2006-2014” on Wednesday. The program includes a 327.2 billion rouble investment into the region over the next seven years.
The plan is designed to upgrade Sochi to the level of a year-round world-class resort destination and will boost Sochi’s bid for the 2014 Winter Games.
Alexander Zhukov, Deputy Prime Minister of Russia, who is head of Sochi 2014 said, “with this federal target program in place, the International Olympic Committee has a full guarantee that all the facilities and venues that are necessary for hosting the Olympic and Paralympic Winter Games will be fully completed in time. If Russia has the honour of hosting the 2014 Olympic and Paralympic Winter Games, the Games would be held in state-of-the art facilities and leave a priceless legacy for the Olympic Movement as well as Russia. We believe that the Games in Sochi would bring significant long-term economic and social benefits for the entire nation”.
The program will allow for the creation of modern transportation, accommodations, power, technology, environment and resort infrastructure in Sochi. Construction of the new terminal at the Sochi/Adler airport, to be finished by the end of 2008, creation of 25,000 new hotel rooms, and road renovations to be finished by 2013 are among the most high profile FTP projects to start before the end of 2006.
