Construction cost of the most expensive stadium of Russia
Forbes has estimated construction cost of the Krestovsky Stadium.
It has been 10 years since the beginning of construction on the Krestovsky Island, St. Petersburg, which became a subject for jokes. However, the contractors did not manage to finish the building works yet, in spite of numerous postponements of deadlines. FIFA representatives have been monitoring the construction for 2018 World Championship and demanded the St. Petersburg Stadium (official name of the stadium on Krestovsky during the Championship) to be finished by 2016, as Confederations Cup matches were planned to be held there in June, 2017. On December 26, 2016 Metrostroy company, the contractor, announced about finish of the construction.
However, later it turned out that the city administration postponed the deadline till 31 March 2017 and made another two contracts with Metrostroy totaling 3 billion rubles on construction and installation works, equipment purchase and other works. Thus, in the beginning of 2017 the cost of Krestovsky stadium exceeded 47 billion rubles (including currency fluctuations, it is over $1 billion). Forbes made a survey on to whom and for what was the money paid.
St. Petersburg government requires Transstroy to return the advances in the amount of 3.6 billion rubles. Inzhtransstroy-SPb (carried out works in 2014-2016) insists on recognizing the fact of implementation of works for 1.8 billion rubles. The dispute is being solved in court. If the court recognizes rightness of Inzhtransstroy-SPb and the former general contractor returns 1.8 billion rubles, the total construction cost of the arena will be 45.3 billion rubles. If the St. Petersburg Government wins the process and the general contractor returns 3.6 billion rubles, the Krestovsky Stadium will cost the city budget 43.5 billion rubles.
Contracts on completion of the construction
Metrostroy works on completion of the stadium and landscaping around the arena were originally estimated at 7.8 billion rubles, but in the end of December 2016 the administration of St. Petersburg signed another two agreement with the company – on 952 million rubles (December 20) and 2 billion rubles (29 December) for construction and assembly works, purchase of equipment, etc. Necessity of the additional expenses vice-governor of the city Igor Albin explained with requirements of law enforcement agencies, and promised to announce the final cost of construction by the Confederations Cup, which was scheduled for June 2017. However, the final figure was expected not to differ greatly from the approved budget, as the customer was to receive advances, which were not spent by the previous contractor.
Three interesting facts
287 million rubles was spent in 2007 for purchase of 63,000 plastic seats. During two years they were kept in a warehouse, then under polyethylene at a construction site. In 2013, according to auditor of the St. Petersburg Chamber of Control and Accounts Yuri Illarionov, chairs were recognized by UEFA as unsuitable. Yet in 2015, after the certification, they were installed in the stands.
45.1 billion yen ($ 364.8 million, at the exchange rate in June 2001) is construction cost of Toyota Stadium in Toyota, Japan, including purchase of land and landscaping. The design of this arena was taken as a basis for the project of the stadium on Krestovsky. The author of both projects is Japanese architect Kisho Kurokawa. Stands of the Toyota Stadium were designed for 42,562 spectators (with the possibility of increasing to 45 000), the roof is summary, the field is stationary.
0 – is number of visits to the construction site of the St. Petersburg stadium by Russian President Vladimir Putin. However, he visited the Otkitie Arena with a personal inspection (a few days before the official opening), Luzhniki Stadium (together with then FIFA president Sepp Blatter), as well as Fischt and Kazan-Arena.
Billionaire Viktor Vekselberg has repaid loans in the amount of $1 billion taken from the Western banks. Earlier, his Renova Group had received state support from Promsvyazbank. Renova representatives say they have repaid the loan with the company’s own funds.
Federation Council member Vadim Nikolaev whose son had gotten into a fight strongly suggested that the other kids and their parents dropped beating charges, making it clear that he had already been to prosecutors and the ICR and “gotten it all dealt with.”
The businessman agreed to exchange the assets of Liwet Holding, through which Vekselberg’s company owned the shares of high-tech European concerns, for the assets of his partners Evgeny Olkhovik and Vladimir Kremer.