OHL Group’s second major construction contract in Russia

July 19, 2012

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The OHL Group has been awarded its second major contract in Russia, consisting of the construction of the sport complex and resort Olympic Flame, which will host the mountain competitions of the Olympic Games and Paralympic Winter Games in 2014, to be held in the city of Sochi on the Black Sea.

The budget amounts to €497.5 million and the works to be performed include a 300-room hotel, which reaches a height of 245 m, a stylobate, water park, parking and ski resort, equipped with a network of tracks and lifts.

This is the OHL Group’s second major contract in Russia. In December 2011, the Czech subsidiary OHL ZS was awarded the Polar Ural project, involving the construction of a 390 km railway for the transport of coal with a budget of €1.95 billion. This amount makes it the largest construction contract in the history OHL to date.

The new project will be implemented in the Sochi National Park, Krasnaya Polyana forest district, next to the Mzymta river. The plot has a total area of 510 ha, including the ski slopes. Of this area, 147 ha correspond to the study area, i.e., the area devoted to buildings, sports facilities and infrastructures for the complex, which will have a total built area of 100,000 m².

The works will be executed in two phases. The first, which will mark the beginning of the works, will start next September and will run until end of 2013 to make way for the XXII Winter Olympic Games to be held between 7 and 23 February 2014. Upon completion of this sporting event, the second phase will start in April 2014 and end in May 2015.

The contract was awarded by Olympic Fond Sport-Olympic Flame, a company created for the project to be financed with equity, with the sovereign guarantee of Russia.

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