Putin warns Sochi construction firms to hurry up

Russia President Vladimir Putin on Friday warned construction

companies working in the 2014 Olympic city of Sochi against

inflating prices and lagging behind schedule.

Putin has been a key backer of Sochi’s bid to host the Olympics

and has personally overseen most of the preparations.

A day after the authorities announced they had foiled a

terrorist plot on the Olympic city, Putin went to Sochi to inspect

sites for the Winter Games and chide construction companies. He

reminded their executives they are responsible for the bills they

submitted to the government years ago, and warned against inflating

prices in the final months of building the Olympic infrastructure

in the Black Sea resort.

”I’m aware of the desire of some ordering parties and

subcontractors, to increase the cost of the sites now, in the final

stages of the construction,” Putin said in televised remarks.

”This is unacceptable.”

Less than two years before the Sochi Games, Putin also said the

government could fine companies that are lagging behind in


The Sochi Olympics budget is about $6.5 billion. More than half

of the funds come from the private sector.

Russia’s secret service said on Thursday its agents discovered

caches of weapons that included grenade launchers and

surface-to-air missiles. It said the plot was to attack Sochi

before and during the 2014 Olympics.

The International Olympic Committee said it has no doubt that

Russian authorities will be able to ensure security in Sochi during

the games.