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Russia to Build Highway From Sochi to Krasnodar, Kozak Says

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Feb. 5 (Bloomberg) -- Russia plans to spend as much as 600 billion rubles ($20 billion) to build a highway from Sochi, the Black Sea city that will host 2014 Winter Olympics, to regional capital Krasnodar 290 kilometers (180 miles) to the north.

The road design will be financed after the end of the Olympic Games from unused funds allocated for arranging the competition, Deputy Prime Minister Dmitry Kozak told reporters in Moscow today.

President Vladimir Putin has sought to attract events such as the soccer World Cup and this week’s Asia-Pacific Economic Cooperation summit. Russia has spent about 660 billion rubles on preparations for the APEC forum in Vladivostok and will invest 300 billion rubles in the World Cup in 2018.

Russia has spent about $50 billion on preparations for the Winter Olympics and developing regional infrastructure, according to Kozak. The government plans to ensure the Sochi infrastructure will continue to be used after the Games, with the stadium built for the opening ceremony earmarked for training Russian soccer teams and hosting World Cup matches.

To contact the reporter on this story: Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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