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Russia to reduce costs in construction of stadiums for 2018 World Cup

January 22, 2015, 19:27 UTC+3 MOSCOW
A total of 300 billion rubles (over $4.5 billion) will be allocated for the construction and refurbishment of stadiums
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© Kristina Kormilitsyna/TASS

MOSCOW, January 22. /TASS/. The Russian government is considering various measures to cut costs of stadium construction for the 2018 World Cup following ruble devaluation and mounting inflation.

This decision was made at a Tuesday meeting chaired by First Vice Premier Igor Shuvalov, who leads the coordination council for the World Cup preparations.

An opportunity of alterations in stadiums (with replacement of a portion of fixed seats by temporary ones), abolishment of a mandatory bank guarantee, actual inflation amendment in government contracts for calculation of future prices, and zero tax duties on imported construction materials were among the discussed measures.

A total of 300 billion rubles (over $4.5 billion) will be allocated for the construction and refurbishment of stadiums. Russia will host the World Soccer Cup from June 14 to July 15, 2018. Twelve stadiums will be built and renovated in Russian cities for the tournament.

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