Enes
Moscow
WINNER OF THE RF MINSTROY MEDIA COMPETITION 2016
Go to mobile

LATEST NEWS

16:54 28-04-2017
Austrian OMV to purchase additional volumes of gas from Gazprom
16:26 28-04-2017
Rosatom and Slovakia negotiate spent nuclear fuel reprocessing
15:54 28-04-2017
Monument to first President of Vietnam to be erected in Russia
15:35 28-04-2017
Californian scientists push for establishing bricks production on Mars
15:14 28-04-2017
Raven Russia buys from Finns two business centers in St. Petersburg
14:45 28-04-2017
Radiological center to be built in Moscow region
14:19 28-04-2017
Austria invites Putin to mark 50th anniversary of cooperation with Gazprom
13:50 28-04-2017
Russian scientists invent new heavy-duty polymer
13:25 28-04-2017
Son of Russian Prosecutor General to engage in construction in Crimea
12:28 28-04-2017
Russia ready to assist Japan in rebuilding Fukushima NPP, Putin says
12:14 28-04-2017
Hungary built second fence from migrants on Serbia’s border
11:25 28-04-2017
Gazprom to receive permits for Nord Stream 2 by mid-2018
11:03 28-04-2017
Investment in Yamal LNG project reached $23.4 bn
10:47 28-04-2017
Japanese might take part in preparation of Arctic LNG 2 project
10:18 28-04-2017
Russia allocates $1,4bn to support its manufacturing industry
09:59 28-04-2017
RDIF and JBIC determine mechanism of Russian-Japanese Investment Fund
09:41 28-04-2017
World’s largest shipyard to be completed in China soon
17:52 27-04-2017
Russian Rosnano and Finnish Fortum set up $530m wind power fund
17:32 27-04-2017
$2m motorway to be built in Russian city of Volgograd
17:08 27-04-2017
Start of Turkish Stream pipe laying scheduled for this summer
16:52 27-04-2017
$1,4m bridge across Don River to be erected in Russia
16:36 27-04-2017
Innovative medical cluster to be built in Russian North Caucasus
16:20 27-04-2017
Austrian building group Strabag increases its net profit by 55%
16:02 27-04-2017
“Branded” trains to be launched in Moscow region by 2018 World Cup
15:44 27-04-2017
Spaniards prepare reconstruction project for Russia-Georgia’s only road
15:22 27-04-2017
PGNiG files claim against Gazprom over antitrust law violation
14:46 27-04-2017
Chilean becomes first architect to win Gothenburg Prize
14:22 27-04-2017
Uber launches flying taxi by 2020
13:44 27-04-2017
Gazprom files €730m counter-claim against Italian Saipem
12:32 27-04-2017
China allocates over 6bn yuan to building e-vehicle factories
All news

ARCHIVE NEWS

«    April 2017    »
MonTueWedThuFriSatSun
 12
3456789
10111213141516
17181920212223
24252627282930

Could the Rolling Stones help repay the Krestovsky stadium

logo russianconstruction.com
Could the Rolling Stones help repay the Krestovsky stadium

Pavel GORIACHKIN, Russian Union of estimators-engineers

Saint-Petersburg authorities (the city committee for construction) has reported recently that the estimated cost of the stadium on Krestovsky island totals 41.7 bln roubles (over $725m).

According to them, the cost estimate includes two latest contracts with the general contractor, Metrostroy, for the sum of 3 bln roubles ($52.6m) comprised of December agreements for 952m and 2.07 bln roubles. The noted sum includes the expenses on the improvement of the surrounding territory and access control zones.  

Additionally, almost 1.9 bln roubles (over $33m) for the stadium’s adaptation for the WC-2018 are included in the city budget: according to the committee’s press office, the subsidies for 2017 total 1.148 bln roubles (over $20m), for 2018 — 803 m roubles (over $14m).

However, journalists have counted that 46 bln roubles ($800m) have already been invested in the stadium. This means that officials from the construction committee have “lost” about 5 bln roubles (≈$87m), which is not at all surprising as a lot of time has passed since the beginning of the construction…

Of course, it is a unique object and nobody would think it to be cheap – it is impossible when taking into account the terms of the work, its complexity and all the requirements. As far as I can evaluate everything, it might cost about 35 bln roubles (≈$609m), but not more. So there is evident over-estimation of up to 8 bln roubles (138.7m), according to our calculations, and I have no doubt about this.

We, estimators-engineers, have always spoken about these abuses, and I may conclude now that overestimates are connected with concrete works and metal structures, constituting about 70% of the “extra” money. The remaining 30% of the overestimates were made during the purchasing of equipment and other things now under investigation in relation to the case of former Vice Governor, Marat Oganesyan, etc.

I want to stress that all these violations are not recent, however, and that they were made several years ago, with the current contractor, Metrostroy, having nothing to do with them.

Could the Rolling Stones help repay the Krestovsky stadium

As a specialist, I have my own opinion about the use of the expensive design and construction solutions. But the main thing now is that the stadium will be a heavy economic burden both for the city budget and for the Zenit football club (and the documents for the stadium’s transfer to the club are ready now).

Why a burden? I am absolutely sure that the Krestovsky stadium will never be paid off. To remind you, stadiums all over the world are rather burdensome and problematic for their owners. For example, Roman Abramovich is Chelsea football club’s owner, but does not own the Stamford Bridge stadium, whose owners do not know how to get rid of it.

And the London stadium built for the Olympics–2012 was later partly dismounted as operational expenses had to be decreased.  The same concerns other arenas, including the Sochi Fisht stadium, which was partly dismounted after the Olympics-2014 and is now being reconstructed to a football stadium.

The Krestovsky stadium is likely to be repaid only if The Rolling Stones will give daily concerts for several consecutive years because only they may gather 68,000 spectators. However, as far as I understand, they have different plans …

What can we say when the Petrovsky stadium with its maximum capacity of 21,000 people is not always packed with fans at Zenit’s matches? It would be naïve to hope that when the Krestovsky stadium will be rented by Zenit (in fact, by their sponsor, Gazprom), it will help solve the problems. Irrespective of whoever operates the arena, the burden remains a heavy one.

According to my calculations, if the stadium is managed properly the received income will cover the operating expenditures. So, the city authorities have nothing to be proud of because everything was clear from the very beginning. And now you may feel proud of paying the money necessary for it.

Related publications

PARTNERS

UP