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Sochi Ice Palace Comes as Free Gift from Metals Giant
14.02.2013 09:04
Sochi Ice Palace Comes as Free Gift from Metals Giant
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The Ural Mining and Metallurgical Company decided to hand over the ice palace it built for the 2014 Sochi Olympics to the state.

The facility worth $100 million will become state property reportedly due to the high transportation costs. 

Initially, it was planned to move the Shaiba ice palace to one of the Russian regions after the Winter Olympics are over. But since the costs of the re-location could run as high as $20 million, the investor thought it would be cheaper to offer this generous gesture.

The Ural Mining and Metallurgical Company is controlled by Iskandar Makhmudov, with just about a 50 percent stake, and Andrey Kozitsyn, owning 35 percent.

Author: Mikhail Vesely

Tags: 2014 Winter Olympics Sochi Ural Mining and Metallurgical Company   

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