Putin warns Sochi construction firms to hurry up
MOSCOW (AP) — Russia President Vladimir Putin has warned construction companies in the 2014 Olympic city of Sochi against inflating prices and lagging behind schedule.
Less than a week after he was sworn in as president, Putin went to the Black Sea resort on Friday to inspect sites for the Winter Games and chide construction companies.
Putin said the firms are bound by the estimates they submitted to the government years ago, and should not inflate prices in the final months of building.
Putin played a key role behind Sochi's bid to host the Olympics and has personally overseen most of the preparations.
The construction budget for the Olympic infrastructure is about $6.5 billion, with more than half coming from private funding.