Sochi Olympic Games on target

Russian deputy prime minister Dmitry Kozak confirmed during a visit to the 2014 Winter Olympic Games venue of Sochi that preparations are fully on-track.

Mr Kozak said on his visit to the Black Sea resort that the Games will cost RUB 185 billion (€ 4,7 billion), of which RUB 80 billion (€ 2 billion) will come from public funds with the remainder provided by private investors.

"I visit Sochi regularly and each time I come, I see a number of positive changes," he said.

Mr Kozak confirmed the International Olympic Committee's independent experts have praised the progress being made and that residents forced to move as a result of construction were now happy in their new houses.

"We have invested approximately RUB 12 billion (€ 306 million) on the relocation of residents affected by construction for the Games," he said. The exact figure will be confirmed following the full valuation of properties affected.

Mr Kozak also said there are a few additional projects that need to be included in the Sochi 2014 plans. "The road that runs to the Imeretskaya Port, owned by the city of Sochi, needs to be renovated so we'll include this in the plan," he said.